Long Term
Nursing Care
Taking Care of Tomorrow
Long Term Care Insurance
Progress in the medical field and the increase in longevity, increases
the possibility that we may become a long term nursing care patient
and remain in such a situation for a long period of time. The expenses
related with such an occurrence, are particularly high, and the person
would need large resources of additional funds to receive the best treatment.
In Israel, the onus falls on the children to look after parents who
may need long term nursing care. In fact it is a criminal offence, should
they fail to do so!
To enable the appropriate care to be provided without becoming a financial
burden on the family, you should take care of any possible situations
tomorrow, by purchasing suitable long term nursing care insurance, providing
that the person taking out the policy is in good health. Costs involved
for long term nursing care patients tend to be in the region of 15,000
NIS per month in a suitable home, or approximately 10,000 NIS per month
for in house care.
Insurance cover available includes:
- In the event of a long term nursing care situation, the insurance
provides a monthly compensation without the need for receipts or proof
of actual expenses.
- Alzheimer and dementia would be considered a long term nursing care occurrence.
- The insurance cover begins immediately and covers for whole life, although there is a waiting period of 2 months from time of diagnosis.
- The long term nursing care will also cover motor accidents, work accidents and terror activity.
- Lump sums that are received from other sources regarding long term nursing care (such
as from the National Insurance Institute), will not be deducted from the monthly compensation amounts.
- During the period that the monthly compensation is paid by the insurance company, there is a waiver of
premium on the policy regarding that person who is ill.
- Rehabilitation expenses, i.e. indemnity of 5,000 NIS per month for a period of 6 months for rehabilitation treatments.
- Emergency cardiac service.
- Ability to join the policy from the age of 3 - 85 yrs.
- Eligibility to receive partial cover upon the occurrence of a Long Term Care event, in case
premiums have ceased to being paid (paid up values).
In taking care of tomorrow, you can choose:
- The monthly compensation amount, of your choice, in units of 1,000
NIS up to a limit of 20,000 NIS.
- The period for which you choose cover can be either 5 years or cover for your entire life.
Goldfus Insurance and Investments takes no responsibility for changes
in Israeli legislation that may alter the accuracy of the above information.
For clarification of any changes, please contact us nearer the time
of your arrival.
For clarification of any changes, please contact us nearer the time of your arrival.