[{"data":1,"prerenderedAt":130},["ShallowReactive",2],{"/blog/everyone-knows-that-long-term-disability-ltd-insurance":3,"/blog/everyone-knows-that-long-term-disability-ltd-insurance-surround":120},{"id":4,"title":5,"body":6,"description":12,"extension":103,"meta":104,"navigation":115,"path":116,"seo":117,"stem":118,"__hash__":119},"blog/blog/everyone-knows-that-long-term-disability-ltd-insurance.md","Window Closing On Long Term Care Insurance @ Sun Life",{"type":7,"value":8,"toc":98},"minimark",[9,13,16,27,33,36,39,42,67,70,73,87,90],[10,11,12],"p",{},"Periodically, INTEGRIS features articles from individuals who provide insights into financial matters.  This week, we have a time-sensitive article about Long Term Care Insurance, something that isn’t always well-known or understood.  This particular article is time-sensitive since it speaks of a June 24thcut-off date to acquire a ‘grandfathered’ policy.   The views of the article below are not necessarily those of INTEGRIS and any questions should be addressed to the author, Ms. Robyn H. Latchman, CFP, CLU, EPC.",[10,14,15],{},"Everyone knows that Long Term Disability (“LTD”) insurance only provides income replacement until age 65.   But needs, especially non-OHIP covered hospital care, certain medicines, and personal service workers don’t stop at 65.",[10,17,18,19,23],{},"While accumulated wealth in PPPs, RRSPs, RRIFs and other savings accounts can help cover some of these costs, ",[20,21,22],"em",{},"would it be great if some of those needs were covered by insurance",[24,25,26],"strong",{},"would it be great if some of those needs were covered by insurance?",[10,28,29,32],{},[24,30,31],{},"There is an answer",": long term care insurance, but unfortunately, the market for good policies is shrinking.",[10,34,35],{},"On June 24, 2021, Sun Life will be changing the terms of its Long Term Care coverage to make it much harder to claim the benefits of the policy. ",[10,37,38],{},"Grandfathered policies subscribed prior to June 24, 2021, will be honoured with preferential terms and conditions.",[10,40,41],{},"Some of this include:",[43,44,45,49,52,55,58,61,64],"ul",{},[46,47,48],"li",{},"90 day waiting period",[46,50,51],{},"Unlimited benefits paid to policy owner directly tax-free",[46,53,54],{},"Maximum guaranteed 25 year payment period",[46,56,57],{},"$9,200.00 of initial monthly benefit tax-free, Inflation protection increase of 2% on each policy anniversary date",[46,59,60],{},"Return of premium at death benefit",[46,62,63],{},"Spousal waiver of premium",[46,65,66],{},"Palliative care",[10,68,69],{},"By way of example, a 50 year old non-smoker or smoker combined rates for a male would pay a monthly premium of $511.12",[10,71,72],{},"The grand-fathered policy would provide this coverage:",[43,74,75,77,80,82,85],{},[46,76,48],{},[46,78,79],{},"Unlimited benefits paid to policy owner directly tax free",[46,81,54],{},[46,83,84],{},"$9,200.00 of initial monthly benefit tax free, Inflation protection increase of 2% on each policy anniversary date",[46,86,66],{},[10,88,89],{},"Since this type of insurance is under-developed in Canada, those who would like more protection should contact me at:",[10,91,92,93],{},"Robyn Latchman\n416-879-6974\n",[94,95,97],"a",{"href":96},"mailto:robyn@latchmaninsurance.com","robyn@latchmaninsurance.com",{"title":99,"searchDepth":100,"depth":101,"links":102},"",1,2,[],"md",{"uid":105,"type":106,"date":107,"author":108,"cover_image":109,"cover_image_credit":110,"hide_call_to_action_button":111,"cover_image_css_classes":108,"meta_title":5,"meta_description":112,"original_posted_date":108,"tags":113,"category":114},"everyone-knows-that-long-term-disability-ltd-insurance","post","2021-06-14",null,"/uploads/everyone-knows-that-long-term-disability-ltd-insurance-cover-image.jpg","Photo by AllGo",false,"Everyone knows that Long Term Disability (“LTD”) insurance only provides income replacement until age 65.   But needs, especially non-OHIP covered hospital care, certain medicines and personal service workers don’t stop at 65.",[114],"Blog",true,"/blog/everyone-knows-that-long-term-disability-ltd-insurance",{"title":5,"description":12},"blog/everyone-knows-that-long-term-disability-ltd-insurance","lh9B561mNE32QJTvycPL2VqxsqdfeHqa2OJmgXCpkKE",[121,126],{"title":122,"path":123,"stem":124,"description":125,"children":-1},"Ever been hip checked?","/blog/ever-been-hip-checked","blog/ever-been-hip-checked","Ever been hip checked? Wakes you up, doesn’t it? (For those who have never had the experience, ask someone to give you one. You’ll quickly understand what I mean).",{"title":127,"path":128,"stem":129,"description":99,"children":-1},"Exceed the RRSP Limits [pdf]","/blog/exceed-the-rrsp-limits-pdf","blog/exceed-the-rrsp-limits-pdf",1784918196523]