Writing the Final Chapters on Your Terms
Most of us plan for retirement, but few plan for the physical changes that come with it. Long-Term Care insurance isn’t just about “care,” it’s about ensuring you have the funds to stay in the setting you love: your own home.
The Plot Hole in Most Retirement Plans.
There is a common misconception that the government will take care of you as you age. The Reality: Medicare pays $0 for long-term custodial care (help with bathing, dressing, eating).
Without insurance, the cost of care—which averages $5,000 to $9,000 per month in Florida—comes directly out of your savings. This can drain a lifetime of hard work in just a few years, rewriting the legacy you hoped to leave for your family.
At Novel Insurance, we view Long-Term Care as Wealth Preservation. We help you ring-fence your assets so they go to your children, not a facility.
Our Coverage Menu
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The Modern Solution. The old "use it or lose it" policies are disappearing. Hybrid policies combine Life Insurance with Long-Term Care.
How it works: If you need care, the policy pays for it. If you never need care, the policy pays a death benefit to your heirs.
Why we love it: You never "waste" your premiums. Someone (you or your family) is guaranteed to receive the benefit.
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The Maximum Benefit. A standalone policy dedicated 100% to paying for care expenses.
Pros: Often provides the highest monthly benefit for the lowest initial premium.
Cons: Like car insurance, if you never make a claim, you don't get the money back.
Best for: Income protection and maximizing the daily care budget.
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The Bridge. A more affordable option designed for recovery after a surgery or illness.
Coverage: Pays for home health aides for up to 360 days.
Best for: Clients over age 65 who want some protection but may not qualify for or afford a full LTC policy.
How We Review Your Policy
The definitions in these policies matter immensely. We review the "triggers" to ensure you can actually access your benefits when you need them:
Home Care vs. Facility Care: Most people want to stay home. We prioritize policies that pay 100% of the benefit for In-Home Care, paying for nurses or aides to come to you.
Inflation Protection: A dollar today won't buy much care in 20 years. We almost always recommend Compound Inflation Protection (usually 3% or 5%) so your benefit pool grows alongside the rising cost of healthcare.
The "Elimination Period": Think of this as a deductible measured in time, not money. We help you choose the right waiting period (0 days vs. 90 days) to balance the premium cost with your immediate cash flow needs.
Frequently Asked Questions
Still have questions? Take a look at the FAQ or contact us anytime.
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A: No. Medicare only covers "skilled" care (rehab) for a short time (up to 100 days) after a hospital stay. It covers zero custodial care (help with daily living) for chronic conditions like Alzheimer’s or Parkinson’s.
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A: It can be, but the alternative is more expensive. Self-insuring means spending your own 401(k) post-tax. Using an insurance policy leverages your dollars—pennies in premium buy dollars in care.
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A: The "Sweet Spot" is between age 50 and 60. If you wait until 65 or 70, the premiums rise significantly, and you run a much higher risk of being declined due to health changes.
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A: We love our children, but caregiving is a full-time job that takes a massive physical and emotional toll. Insurance allows your children to be your children, not your nurses. It gives you the funds to hire professionals for the heavy lifting (bathing, lifting, changing) so your family can focus on spending quality time with you.
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A: Benefits are typically triggered when a doctor certifies you cannot perform 2 out of 6 Activities of Daily Living (ADLs): Bathing, Dressing, Eating, Toileting, Transferring, or Continence. Or, immediately upon a diagnosis of severe Cognitive Impairment (like Dementia).