Disability & Long Term Care Insurance in West Bloomfield

Disability and long-term care insurance are mainly purchased by people that are between 40 and 70 years old providing valuable protection for their families, particularly as they age and become more vulnerable to health issues. Phil Klein Insurance Group is West Bloomfield’s long-term care and disability insurance experts. We can help you find the coverage you need.

Although folks in West Bloomfield find long-term care insurance and disability insurance are related, there are some subtle differences. For instance, disability insurance usually works up until the age of 65. After that, the insurance company has no obligation to make further payments to you in Michigan.

Long term care, on the other hand, kicks in whenever you are unable to perform some basic functions such as clothing or feeding yourself. One factor you should keep in mind when families in West Bloomfield are buying disability insurance or long-term care insurance is that preexisting conditions could lock you out.

Your health deteriorates quite fast when you reach the age of 50. It is thus important for you to make the purchase of this type of insurance a few years ahead before you ever need it. Typically, you should start making premiums once you reach the age of 40.

When applying for disability and long-term care insurance in Michigan, check whether you can afford the premiums. Phil Klein Insurance Group can help you find a plan that is affordable for you. Typically, disability and LTC insurance will cost West Bloomfield residents about 1 to 3% of their annual earnings.

The inflation protection rider is an optional additional benefit to your policy that provides for benefit levels to increase to account for reasonably anticipated increases in the costs of long-term care services covered by the policy. Insurers must offer, at the time of purchase, the option to purchase a policy with an inflation protection feature with at least one of the following:

The disability and long term insurance offered in West Bloomfield also come with an inflation rider if you wish. It is a way for you to ensure that your payments will not suffer as the cost of living rises. It guarantees that you will still afford the cost of living in Michigan.

Phil Klein Insurance Group in West Bloomfield can find the right disability or long-term care insurance policy to help you in times of disability or during old age. Visit our office or give us a call today!