Long Term Care Insurance

Long Term Care Insurance


When you’re happy and healthy, there is a good chance that everything is going your way. You may start to take this for granted and that can be very bad. You need to be careful since things can go awry at any point. You need to make sure that you’re aware of the risks that you may face at any time. For example, you are exposed to numerous risks when you drive home after work, at work, or even at home. With that being said, you should take steps to ensure that you’re protected if you get into an accident. Insurance can help.

There are certain types of insurance that can provide you with protection in the event that you get injured and cannot perform everyday tasks. It is a good idea to obtain insurance so you do not have to worry about running into major problems in the future. Long term care insurance is a good option for many Canadian consumers. However, it might not be necessary for you right now.

Within this guide, you’re going to learn all about long term care insurance and the reasons you should add it to your protection.


What Is It?

Long Term Care is a type of insurance which provides you financial protection to help cover the cost of care if you become unable to take care of your daily living activities due to reduced mental or physical capabilities. It can help you by paying for managing your daily activities like bathing, dressing, toileting, or even giving you supervision to protect your future health and safety incase of mental incapability.


Who Needs It?

Not everyone is necessarily going to need long term care insurance. You may or may not. There is definitely no set age when you will need long term care. In most cases, long term care is felt needed during the retirement years. With that being said, you should take the time to figure out if you need it. If you do need it you should take the time to figure out the amount needed. So, should you consider getting this type of coverage, these are the reference points that can be considered for choosing long term care. 

  • You should think about getting this insurance if you’re worried that your retirement income is not going to last. If the government programs do not offer a sufficient amount of money, this insurance can help. If you fit into either category, you should obtain this insurance so you can enjoy your retirement to the fullest.
  • You never know when you’re going to get into an accident. Simultaneously, you may get sick and this may force you to spend a significant amount of time in the hospital or hospice. If this happens, you’ll want to make sure that you have the finances to choose the level of care that you want. Well, long term care insurance can help. Do not skip on this insurance since it can make your last years on Earth so much more pleasurable and enjoyable.
  • Healthcare costs are expensive. A long-term illness can empty your bank account. You can prevent this from happening by acquiring and maintaining long term care insurance. It’ll ensure that you have extra money to cover your bills so you do not have to worry about spending all of your money on medical bills.

Long term care insurance is a good option for people who are getting older. If you’re worried that something is going to go wrong in the future, you’ll want to get this type of insurance immediately. Do not delay or you may wait too long and this will result in major issues for yourself and your family.

If you’re having trouble finding the insurance that you need, you should rely on Sim Gakhar. She will be able to help you get the information you need so you can acquire the appropriate insurance sooner rather than later!


How Long Term Care Insurance Can Help

Long term care insurance offers numerous benefits. It is a good option for many individuals. You should learn more about its benefits. Once you’ve done that, you will agree that this type of coverage will prove to be well worth the cost in the long run. Below, you’re going to learn a lot more about the major benefits associated with long term care insurance.

  • A lot of people are afraid of being stuck in a nursing home. There is a good chance that you feel the same way. You want to maintain your independence and remain in your home for as long as possible. This is why you’ll want to take advantage of long term care insurance. With this type of insurance, you’ll have additional money so you can receive care in the comfort of your home. This will prevent you from being forced to move into a care facility so soon.
  • Another thing to note is that long term care insurance will reduce the burden on everyone. If you do not have insurance and you want treatment at home, your family members will have to chip in. They’ll have to put in time and money to care for you. This can be a burden for everyone. When you acquire long term care insurance, you’ll have extra money that you can use on other activities including receiving medical care at home.
  • You never know what is going to happen in the next hour. Therefore, you cannot take too many risks. If you experience a horrible accident, you may be required to spend thousands to get treatment. That may mean that you need to hire a caregiver. Again, this is going to be very expensive. If you have long term care insurance, you can rest assured knowing that the insurance will help cover the costs.

Ultimately, you should never try to handle this burden alone. And, you shouldn’t let your family members do it either. You need to acquire long term care insurance so you can ensure that you’re going to be cared for when you’re no longer able to care for yourself.


What You Need

Remember there are several different types of long term care insurance available in Canada. You need to go above and beyond to find out which one is going to work best for you. To find out what you need, you should start by finding out how much money is needed to thrive. How much extra money do you need on a weekly basis? Finding out can be tough but it’ll prove to be worth it. Before you experience an accident, you should get the insurance that you need. This is why you should work with a professional.

Professionals have worked with individuals like you numerous times so you can guarantee that they’ll be able to provide you with reliable advice. If you’re having trouble trying to find out what type of insurance is going to work best for you, it is time to get in touch with Sim Gakhar. Her advice will help guide you through the process so you can sleep sound knowing that you and your family will be protected and you will be well taken care at that time of need.


Don’t Forget Retirement

You have to understand that your life is going to evolve in the future. If you’re still working, there is a good chance that you’re a few years away from retirement. And, that is going to have a big impact on your finances and so much more. With that being said, you have to be prepared for these changes. You need to make sure that you’re aware of how your retirement is going to impact your financial situation. You will receive retirement benefits and that can help. However, it might not be enough to cover the costs.

With this in mind, you should find out what your financial needs will be after you’ve retired from work. Once you’ve done that you should begin working to acquire a sufficient amount of long term care insurance.


Acquiring Long Term Care Insurance

At the end of the day, you’ll find that acquiring insurance can be a hassle. Things are going to get tougher since you know little to nothing about insurance. Don’t worry. You do not have to navigate the path alone and you shouldn’t. There is assistance out there and you should take advantage of it. Below, you’re going to find out what you need to do to acquire long term care insurance soon.



Team Up With An Advisor

Remember that you know very little about insurance. So, you’re likely going to have a difficult time trying to acquire the insurance you require. Well, you do not have to look far to find assistance. Make sure that you team up with an advisor. However, you cannot rush this process. Take your time and spend some energy researching the advisors in your area. Once you’ve done that, you’ll want to choose an advisor who is going to provide you with the best results. Remember that an advisor can help you find out what type of insurance you need. They’ll also be able to help you get the most affordable prices as per your needs. Either way, working with an advisor is a must.


Then Work With The Advisor

Before doing anything else, you’ll want to work closely with the advisor in question. This individual will become your consultant so you’ll need to make sure that they’re fully aware of your needs. Make sure that your advisor has the information that they need. This is far more important than you could ever imagine. This individual should know about your needs and requirements so they can work hard on your behalf. If you provide them with an ample amount of information, you can guarantee that they’ll be able to answer your questions and get the best insurance for you.



Remember that the price can vary widely from one company to another. Therefore, you have to be very cautious when signing up for insurance. You need to make sure that you get the best coverage for the best price. With this in mind, you can start shopping for quotes right now. Remember that you can get quotes online without jumping through too many hoops. Also, your advisor should be able to help you with this process. They’ll do their best to ensure that you get the best deal for your money.



Once you’ve found out what you need, it is time to qualify for insurance. This shouldn’t be too difficult if you’re working with the right advisor. However, you will be required to fill out and submit an application. With that being said, you should take your time and fill out the application with maximum precision. Submitting incorrect information can lead to major delays and other issues. Again, you should rely on your advisor to walk you through this process. Doing so will make the task much easier and help ensure that you qualify much sooner. While you could do it on your own, it is best to work with a professional.


Getting Started Today

At the end of the day, life is unpredictable. Anything can happen so you cannot take major risks. Doing so could come back to haunt you in the future. With this in mind, you need to think about getting long term care insurance sooner rather than later. Doing so will make a big difference in your life. You can get in touch with Sim Gakhar right now to get started as soon as possible.

What Our Clients Say

My husband and I had the pleasure of getting our life insurance through Sim Gakhar. She is professional, attentive, detailed-oriented and knowledgeable. Sim is reliable and trustworthy – from selecting the right product to providing medical records and payment process – she made it super easy. She is punctual and flexible – she always came to our home at our schedule. She ALSO helped with closing one of our older insurance policy that wasn’t working for us. We highly recommended Sim, she is definitely one of the best in the industry.
Tharmila RajasingamCo-Founder | Realtor
Sim helped me and my wife replace existing Life Insurance and Critical Illness policies that weren’t meeting our needs. Her knowledge of Canadian Insurance policies and providers is excellent. Her approach was very consultative, ensuring that she understood our situation & goals, and never overselling. We were presented with several options and given time to make the best selection. Her relationships with coverage providers ensures that the process goes smoothly. I highly recommend her.
Jim MonteathIT Consultant
It has always been a pleasure conversing with Sim. She is always available, and always happy to provide you the best solution to suit your needs. One thing that makes Sim outstanding at what she does is her deep understanding of various products and how they fit within the goals of the client. It has truly been amazing 6 years since I have known Sim. Not only have I received appropriate coverage, but also was able to set up a plan for the estate. Thanks, Sim, and to anyone looking for a financial advisor or an estate planner or have any insurance needs, Sim is the person to go to. Thanks, Sim.
Adil ViraniActuary
Sim helped us with a life insurance policy. Her communication systems and processes and her ability to stay in touch, explain things, and move things along is as professional and streamlined as I’ve ever seen. She was an absolute pleasure to work with and has helped our family secure our financial future!
Jonathan CarterCPA | CMA
Sim has been our go to person for insurance over the last 11 years. She is nothing short of professional, caring and always looking out for our best interest. The great thing is she will always be available to answer questions and provide insight on how the decisions you make today, will impact your future tomorrow.
Raaziq BhimaniRestaurateur
Sim is a thorough and learned professional. It was a great experience working with her, to get customized insights, advice in making my insurance and investment decisions. She handled the end-to-end process with ease, especially during this challenging time, and went the extra mile so I could complete everything remotely. I would definitely recommend her and look forward to working with her for future investments.
Manav GhaiSenior Product Manager
Sim is a very knowledgeable and experienced professional not just for excellent & creative insurance solutions but probably the best financial planner that you will ever meet. We have known Sim for almost the past 2 decades and all we can say she conducts her business with integrity.
Neil RamchanderSales Manager
Sim is extremely knowledgeable, patient and helpful. She helped us to put together a plan that suited our needs very well. I think we were very lucky to find Sim.
Rick MateljanPrincipal Owner
I had the pleasure of working with Sim on selecting the best life insurance policy fo me. I had met with several advisors prior to meeting Sim and she definitely stands out as one of this best in the space! It’s very refreshing to see how she personalizes her approach to each person/product and makes sure you are well informed and comfortable before making any financial decisions.
She is constantly learning and paying it forward through her involvement and leadership in international community events. I am confident that Sim will help me make decisions in my best interest and I am excited to work with her in the future!
Sanveer DhanjuProduct Analyst
Sim is very knowledgeable and experienced person who not only help me with my life insurance and retirement planning needs, but also help my clients with their tax and retirement planning needs on very timely basis. I highly recommend her if anyone needs insurance and investment advice.
Olga Sokolova CPA, CA, LPA

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