|
Long Term Care Plans
 Why should you consider Long-term Care Insurance?
- The financial impact of not insuring long-term care is significant to you as an individual and to businesses alike
- 60% of persons 65 years and older will need some form of long-term care during their lifetime
- By 2030, one year of nursing home care expected to be $97,000/year
How do people fund long term care expenses? 3 main sources:
- personal savings/retirement funds
- Public programs: Medicaid
- Private long term care insurance
The Individual:
National average cost of nursing home care is more than $46,000 per year, assisted living facilities is $25,000-$30,000 per year and in home care more than $15.00 per hour.
The Business:
The national cost to businesses is more than $17 billion, and estimated at $2500 per long term care giver (i.e. your employee). An estimated 20-30% of the workforce cares for elderly.
How can purchasing a long-term care insurance policy benefit you and your loved ones ?
- Individual assets and retirement savings can be protected
- Benefits can be provided tax-free
- Long-term care insurance premiums can be tax deductible
- If purchased via an employer, the benefits are portable if you leave your job
MOST IMPORTANT REASON: you have piece of mind knowing that your loved ones will not be financially burdened by having to finance your long term care needs. That’s reason enough to purchase long-term care insurance.
For a comprehensive evaluation of your long-term care insurance needs, give us a call or go to www.ltcfc.com/shoppers.html for a free “Shoppers Guide to Long-Term Care Insurance”.
|
