As a society, we must come to terms with the fact that people are living longer. While a segment of the population may be healthier than we’ve ever been, there are still an enormous amount of people that will need to be cared for, which is evident by the boon in the field of services for the elderly, which includes continuing care retirement centers, home care services, traditional nursing homes and other assisted living facilities.
Many of these models are focused on, and organized to, provide physical care to those frail and impaired individuals no longer able to care for themselves, and these companies bring with this responsibility many risks and exposures that they must address. Nursing home insurance for agents can be provided by licensed insurance underwriters familiar with the risks associated with these businesses and can offer risk management services to agents and individuals whose primary goal is to be able to offer the highest quality of life for residents.
An ever-growing segment of the population
The life expectancy for men today is, on average, 83 years old, with women expected to live until the age of 85 (based on people currently age 65), and as many as one in four will live past age 90. This coincides with the belief that, as the number of dependent elders continues to grow, many will need the services provided by nursing homes.
In order to meet their census, nursing homes must continually evolve in order to offer the highest quality of care to this growing population of seniors. On way to accomplish this may be to create smaller communities in which residents would receive more individualized care and this could also provide residents with the ability to continue making contributions to their communities, including volunteering and tutoring opportunities. Meanwhile, staff would have a smaller number of residents and more manageable responsibilities. This means providing more privacy and flexibility for residents in terms of eating, sleeping, bathing and other basic preferences.
Nursing home insurance for agents includes a general liability, employee benefits liability, sexual misconduct, commercial property, business auto, workers compensation, and other key coverages that many of these organizations would benefit by having many or all of these policies in place.