Long Term Care Insurance or LTC is best explained as Disability Insurance for seniors. However, to qualify for a benefit payment with LTC you must satisfy the definition in your contract pertaining to "Activities of Daily Living". If you are unable to perform 2 of the 5 or 3 of the 6 activities of daily living, the benefit will be paid.


Here are the activities of daily living commonly referred to: 

Bathing, Eating, Dressing, Toileting, Continence, Transferring
Long Term Care
How can it help?

Similar to Disability Insurance, LTC will have an Elimination or Waiting Period before benefits commence and there will also be a benefit period involved. Waiting Periods can be 30 to 90 days and benefit periods can vary from 1 year to lifetime.

Quality home care or facility care costs have skyrocketed across Canada. To be sure that your dignity is protected in the future and that your savings or estate are not eroded, LTC can be a viable alternative as part of your retirement planning.

helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by government funded healthcare plans.

Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living such as dressing, bathing, eating, toileting, continence, getting in and out of a bed or chair and walking.

Age is not a determining factor in needing long-term care. About 60% of individuals over age 65 will require at least some type of long-term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Once a change of health occurs long-term care insurance may not be available. Early onset (before age 65) Alzheimer's and Parkinson's disease are rare but do occur.

At Macnaughton & Ward Financial Services we represent the leading insurers today in Canada for Long Term Care Insurance.