HEALTH, LONG-TERM CARE
AND DISABILITY INSURANCE

Protect yourself and your loved ones with health insurance, long-term care coverage and disability insurance.

We offer a full line of Health and Disability insurance products to help properly protect you and your loved ones.

  • Group Health

  • Group Dental

  • Group Vision

  • Individual Health

  • Individual Dental

  • Long Term Care

  • Disability Coverage

 
What is Long-Term Care Insurance?

Because of old age, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). These six actions are called Activities of Daily Living–sometimes referred to as ADLs. In general, if you can’t do two or more of these activities, or if you have a cognitive impairment, you are said to need “long-term care.”

Many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or at home. Assistance with ADLs, called “custodial care,” may be provided in the same place as (and therefore is sometimes confused with) “skilled care.” Skilled care means medical, nursing, or rehabilitative services, including help taking medicine, undergoing testing (e.g. blood pressure), or other similar services. This distinction is important because generally Medicare and most private health insurance pays only for skilled care–not custodial care.


What is Disability Insurance?

 

There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):

  1. Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.

  2. Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.

 

Disability policies have two different protection features that are important to understand.

  1. Non-cancelable means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.

  2. Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.

 

In addition to the traditional disability policies, there are several options you should consider when purchasing a policy:

  • Additional purchase options - Your insurance company gives you the right to buy additional insurance at a later time for an additional cost.

  • Coordination of benefits
    The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.

  • Cost of living adjustment (COLA) - The COLA increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.

  • Residual or partial disability rider - This provision allows you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.

  • Return of premium - This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.

  • Waiver of premium provision - This clause means that you do not have to pay premiums on the policy after you’re disabled for 90 days.

Get your Health Insurance, Long-Term Care or Disability
Quote today!

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Botson Insurance Group is an independent insurance agency located in Avon, Ohio. We offer innovative insurance solutions for all of your personal and business insurance needs. Call or email us today and we will be happy to help you however we can.

ABOUT BOTSON INSURANCE

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Botson Insurance Group

36480 Detroit Road

Avon, Ohio 44011

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