What Long-Term Care Insurance Can Do for You

• Long-term care insurance is a type of insurance developed specifically to cover the costs of long-term care services, most of which are not covered by traditional health insurance or Medicare.
  
  Long term care insurance will actually keep you out of a nursing home. After you've had an event and you're either discharged from the hospital or you're finding yourself slowing down and you need a little bit of care at home, this allows you to have a person come in to provide a little bit of assistance while you take a shower, get dressed in the morning, help you cook food, etc."
  
  It is important to consider the following:
• Don't buy out of fear or emotion.
• Don't buy more insurance than needed.
• Don't buy too little insurance. That will only delay the use of owned assets or income to pay for care.
• Look carefully at the policy. There is no "one-size-fits-all" policy.
• Does the policy pay only for room and board in a facility? If so, plan for other expenses, such as supplies, medications, linens, and other things that may not be covered.
• It costs less to buy coverage for younger people. The average age of someone buying long-term care insurance today is about 57.
• Make sure that buying the long-term care insurance policy is a sound financial decision and affordable.
• Look at different options and talk with a Long-Term Care Specialist before making a decision.
  
  
  
  
  

Aging Baby Boomers Will Impact Long Term Care Services

Aging Baby Boomers will significantly impact the potential demand for long-term care services over the next two decades.

• Over the next 20 years, the number of Americans age 65 and older will more than double to 71 million, comprising roughly 20% of the U.S. population.
• Greater longevity among the Baby Boom generation will also contribute to increased demand for long-term care services—those surviving to age 65 can expect to live an average of 20 more years.
• As Baby Boomers live longer, their chances of needing some form of long-term care services will rise as well. Roughly 70% of people over age 65 require some form of long-term care, and more than 30% will receive some nursing home care in their lifetime.

It is important to have a plan for your own long-term care even though it may be 20-30 years from now.

Where will the money come from for your care?

Simplify your Long-Term Care Financing and Planning with Long Term Care Insurance Pros