Long Term Care Insurance: Is our savings sufficient for care coverage?
With increasing awareness of the Baby Boomer retirement, the insurance industry is heavily focusing on long-term care insurance plans for aging consumers. Although Ministry of Health puts forward a significant amount of budget towards care for seniors, one can no longer depend on it solely or on private health insurance because it does not cover extended nursing home stays, assisted living centres or regular home care visits.
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Understanding Insurance Lingo
Jargon. There are so many professions that seem to have a language entirely their own. The medical profession is a great example. Unless you have Masters degrees in Latin, biology, and medicine, it’s hard to decipher what they’re talking about. And a lack of comprehension can lead to a misunderstanding of products and services.
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Independent Supportive Living in British Columbia
Independent Supportive Living typically describes apartment-style accommodations that provide supportive services such as housekeeping, meal preparation and/or communal dining, social and recreation programs, 24-hour emergency response, shopping assistance and transportation. The tenure is usually on a rental basis often with a standard service package included in the rent. There is usually a menu of optional fee-for-services made available as well. In some cases, the units are fully "self-contained" (each having its own kitchen) so that the meal program might be optional.
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Tips On Choosing a Retirement Residence in Ontario
As we age, our lifestyles change. For example, we may no longer need or want a large house. We may prefer something of a more manageable size because the demands for maintenance increase or because of difficulties in managing stairs, the house may be unsuitable.
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