Long term care is defined as an extended period of time when a person requires someone else to help him with his physical or emotional needs. One may require long term care due to an extended or terminal illness, disability, injury or old age. Per the National Care Planning Council*, 60% of people will require some type of extended care during their lifetime. If you or a family member required nursing home care, would your family be able to maintain their standard of living? For many people, this would cause devastating financial hardship. Incorporating long term care insurance (LTCi) into your financial plan will provide you with the confidence knowing that your family’s assets are protected.
According to experts, the average stay in a nursing home is approximately 2.5 years.* The cost of nursing home care is staggering, and in most cases, Medicare does not cover the cost of long term care. Without the proper amount of LTCi coverage in place, your assets could be rapidly depleted.
There are four main reasons why people purchase Long Term Care Coverage:
Our long term care professionals will educate you about the different options and will guide you through the long term care planning process. For more information regarding LTCi or to schedule a meeting with one of our representatives, please click here.
This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. Guarantees are based on the claims paying ability of the issuing company.