Life Care Plans

Life Care Plans

life-care-plans

When an individual is seriously injured the cost of medical care is difficult to estimate for the family of the injured person and the insurance company. A Life Care Plan (LCP) provides the specific cost of treatment, medication, equipment, economic loss and vocational analysis to assist all parties in estimating the cost of future care.

The difference between a Medical Cost Projection and a Life Care Plan is that the life care plan includes an evaluation by an economist who performs a present day value calculation and economic assessment of earning capacity loss to the total cost of the plan.