Long Term Care insurance (ביטוח סיעודי) provides a monthly payment for the life of the insured (or for a set number of years if the insured so chooses) in the event that the insured becomes unable to take care of himself, G-d forbid. The Hebrew term for someone in this situation is called Siudi.
Long term care, whether in the form of a home caretaker or a nursing home facility, is quite expensive and can place a tremendous financial burden on the individual and his children or drain the wealth out of one's estate. This is especially true these days when statistically older people live longer, thank G-d, even if they are in a Siudi situation. Having a long term care policy transfers this financial burden from the family to the insurance company.
After two years the policy begins to accumulate insurance value, which means that if you stop paying or lower the premiums, the policy remains in force, albeit at a lesser monthly insurance coverage amount.
The long term care insurance offered by the Israeli insurance companies start paying from 45 – 60 days after the insured becomes Siudi. They offer another version that supplements any long term care coverage that you may have purchased through your Kupat Cholim (health fund). This version is much less expensive as the monthly payment begins only three or five years after the insured becomes Siudi, for that is when the monthly payments of the long term care insurance sold through the Kupot Cholim ends.
car insurance in israel,car insurance israel ,israel car insurance,insurance agency,car insurence,auto insurance,car insurance quotes,motor insurance agent,insurance car,agent car insurance,car insurance companies,car insurent,i car insurance,buying a car in israel,vehicle insurance,best car insurance,"car insurance"
