Long-term Care Protection
Long-term Care Insurance provides coverage when you or someone you care about can no longer manage routine life activities, such as eating, bathing, dressing, and walking.
With people living longer than before, the issue before us is not “if” we will need long term care, but, rather, “when.” Recent statistics reveal that more than two out of five of us will require long term care at some point in our lives, and the odds increase to seven out of ten after the age of 65. Chances are, paying for long term care will be a critical issue for nearly everyone as we, or our loved ones begin to cope the ails of aging.
The average annual cost of a nursing home for one person in the United States exceeds the net income of many American families; and with an average 3-year stay, the total outlay could be devastating for many families. Fortunately there are ways to pay for long term care that don’t involve draining a family’s assets. We work with our client to explore the options available to protect their assets from the high cost of long-term care. Long-term care insurance may make sense for most people who want or need to protect their assets for their own use or as a legacy for their children.