Long Term Care

Why should you consider long term care insurance?

If you're like most consumers, you've set aside money for a rainy day. But you probably haven't protected your savings against the expense of an extended illness or disability. You should take action now, because the likelihood of needing such long term care is significant and the cost is high. A study reported by the New England Journal of Medicine in 1992 anticipates that 43% of people over age 65 will enter nursing facilities during their lifetime. More than half of the people in a nursing facility stay more than one year. Currently, the cost of a year in a nursing home averages about $45,000.¹ In addition to nursing facilities, many people will need long term care services in their home, or community services in adult day care centers. It has estimated that 80% of all people age 65 will need either nursing facility services or home or community services during their lifetime.

Long term care insurance is the most efficient means of protecting your assets from this threat. When you purchase a long term care insurance policy, you not only help safeguard your assets from the cost of long term care, but you increase your independence and control over future needs.¹ American Health Care Association study, 2002
 
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