Long Term Care Insurance


At some point, we all worry about aging and the time our life savings will deplete, or we'll be a burden on our children to assist us physically and/ or financially.

Long Term Care (LTC) insurance will give you the protection you will need. A LTC plan benefits will kick in at any point that you can no longer independently perform two of the six “activities of daily living”: eating, bathing, dressing, using the bathroom, getting in and out of a chair, and maintaining continence.

LTC will provide coverage for home aides and therapy, nursing home care, or assisted living. Once you are eligible for LTC benefits, you no longer pay premiums!

The earlier you enroll in a LTC plan the lower the premiums are. In recent years, an array of innovative LTC plan types have been introduced to the market, offering you options that are more affordable and ensure that your premiums do not go to waste if you remain independent through ripe old age.

Cosmo Insurance Agency has enormous expertise in the LTC insurance market. We will advise you of your most updated options, and independently shop for the carrier that will give you the lowest premiums. Regardless of your age and health situation, we can virtually always get you approved for an attractive LTC plan from one or more reputable carriers.

The following is a synopsis of the main LTC plan categories that we offer:

Conventional LTC: You are covered for long term care so long as you pay your premium. These plans offer low premiums that typically rise in the subsequent years.

Life/LTC Hybrid: This option is increasingly popular for its unique feature that combines the traditional death benefit of life insurance with LTC benefits. Your single premium,which is locked in for life, entitles your beneficiaries to a particular death benefit, and are simultaneously locked in for life. If necessary during your lifetime, costs for long term care are disbursed tax free and deducted from the death benefit. If necessary during your lifetime, costs for long term care are disbursed tax free and deducted from the death benefit.

Self Insurance/Moneyguard: Liquid funds of money accrued, addscompounding interest year after year, which will roughly triple in value after about fifteen years. Cash can be withdrawn tax free for LTC expenses, based on the account’s value at the time. Excess money remaining in the account is left toward the death benefit to your beneficiaries. This option is typically the best choice for people with major health issues – health doesn’t affect account value – and/or for those with large pools of money earning little to no interest.


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