Long-Term Care Insurance


There is growing concern about the high cost of long-term care and there should be. Many Americans are feeling the effects these costs. They impact more than money, but also the quality of life and how loved ones spend their final days.

If you are counting on Medicare & Medicaid to cover the cost, don’t. Personal and family assets end up paying for most long-term care expenses and it is not cheap. We are talking thousands and thousands of dollars. The average cost of a private room in a nursing home is $75,190. The need for care may last for several years, or even longer.

How many people do you know who have lost their homes due to a fire, or have had their automobile destroyed in a wreck? A small number, if any. Yet most people insure their homes and their cars. Did you know you have a greater risk of needing long-term care? In fact, your risk of needing long-term care services is 1 out of 2. Yes, half of Americans will need some type of long-term care.

Long-term care does not only cover nursing homes. The majority of long-term care services (83%) are provided at home, in an assisted living facility or in an adult day care.

Long-term care is not for only those who are older. Younger people need long-term care due to illnesses, physical disabilities, and serious injuries. In fact, more than 50% of those receiving long-term care services are under age 65.

For many people, an individual long-term care insurance policy is a wise choice. Millions of Americans have purchased long-term care insurance and were grateful they did. Many more are acquiring this coverage each year. The time to act is now. With so many people reaping the benefits of their policies, LTC rates are rising. Don’t miss out on this opportunity.

A quality policy can:

1. Preserve your financial independence and avoid relying on family or friends for support.

2. Help protect the savings and investments you have spent a lifetime accumulating.

3. Help keep your options open when deciding on long-term care services. Maintain your freedom of choice in determining how and where you receive care.

It is important to remember long-term care insurance does not have to cost an arm and a leg. Custom plans are available to fit your individual needs as well as your pocketbook.