"U.S. News & World Report’s “The Best Life” section recently ran an article on the main reasons everyone should look into purchasing a Long Term Care Insurance policy. The near-constant refrain, repeated in the U.S. News’ piece as well, that Americans are living longer underscores the need for long-term care planning.  But, as the article points out, “even normally aging older Americans are likely to need expensive long-term care assistance.”  In fact, the Department of Health and Human Services estimate is that roughly 70% of all Americans over 65 will need some form of long-term assistance.  That’s most of us.  This, in and of itself, should be enough to spark any reasonable person to begin planning for a peaceful and secure retirement with a Long Term Care Insurance plan. Here is a summary of the main, compelling reasons you should look into Long Term Care Insurance: You will likely need some form of long-term care
• 40% of all people over 85 need some form of long-term care
• Approximately 1.6 million seniors living in nursing homes full-time with half of those being over age 85
• Half of all people over age 85 are at risk of developing Alzheimer’s, a disease that almost always requires long-term care of some kind
Long-term care is expensive
• Yearly costs for nursing homes can top $100,000/annually
• In-home care is cheaper but can run into the $30,000-$40,000 range
• Assisted-living and adult day care comes in somewhere in the middle at around $50,000/annually
You can’t depend on your children or family
• Families are mobile in today’s society and thus your children might not live nearby
• Expecting your children or other family member to care for you puts a great, emotional strain on them
• There are “hidden” costs involved when you ask a relative or child to take time off of work to care for you
You can’t afford to pay for long-term care out-of-pocket
• Most Americans don’t have sufficient savings or assets to cover long-term costs without insurance
• The vast majority of Americans are “in the middle”: too wealthy to qualify for Medicaid yet not well-off enough to cover long-term care costs easily
You can’t count on the government
• Even if you can qualify for Medicaid, the federal government is trimming benefits to cover the deficit
• The Federal LTC Plan is not sustainable and is woefully insufficient in its benefit pay-out
These reasons as well as many others offer a compelling case for purchasing a Long Term Care Insurance policy now.  Once you get the ball rolling on thinking about these issues, navigating the myriad choices in Long Term Care Insurance plans can be daunting.  There are many options to consider such as level of coverage, length of coverage and age at which to purchase which all contribute to the cost of premiums.  Time, unfortunately, is not on your side as the earlier you buy, the better the rates.  So, it’s never too early to start thinking and planning about your future long-term care needs. Simply fill out our request form, and we’ll glad to talk you through the various plans and options.  Thank you for reading today's blog.  We really appreciate it."