Long term care insurance provides assistance for the activities of daily living when a person is chronically ill or disabled due to an injury, illness or mental impairment (such as Alzheimer's disease). This care can be provided at home or in a care facility.
Why do I need to worry about long-term care?
According to the U.S. Department of Health & Human Services, about nine million men and women over the age of 65 will need long-term care this year. By 2020, 12 million Americans will need long-term care. In addition, a person could require long-term care at any age because of a severe injury, a chronic illness or some other debilitating condition.
Can’t I rely on Medicare or Medicaid?
Generally, Medicare doesn’t pay for long-term care. And although Medicaid will pay for some long-term care, there are restrictions on an individual’s assets to qualify, as well as a limited choice of facilities.
What are the benefits of Long-term Care Insurance?
Peace of Mind—You won’t have to wonder how you will pay for home health care, adult day care, assisted living facilities or nursing home care if you do need it. And you won’t have to worry about burdening your family with the expense either.
Asset Protection—The rising cost of long-term care can quickly eat up in a few years what it took a lifetime to build. Long-term Care insurance can help you protect your assest for your spouse, children or other family members.
Financial Security—In 2006, the average daily rate for a private room in a nursing home was $206, and the average stay was 2.4 years. That adds up to around $180,000! Long-term Care Insurance can help you manage these costs.
What can I do now to prepare?
To explore your long term care options or to have us shop for the proper plan for you, you can call Chris Dunlevy at (480)633-6683 or fill out the form below. Even if you already have a plan, Chris can help you evaluate it to see if it still meets your needs.
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Why do I need to worry about long-term care?
