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Welcome to LTCtree, we hope you will find our consumer Long Term Care Insurance quotes, information, reviews, ratings, and company comparisons helpful in your research.
The Reality on Long Term Care Insurance
- New England Journal of Medicine recently reported that about 49% of people who are 65 plus will need long term care assistance before they pass away.
- The Wall Street Journal states that almost 50% of seniors 85 and up have Alzheimer’s or some form of dementia which is the number one cause for needing long term care. WSJ also reports that even children are buying long term care insurance for their parents.
- Harvard Magazine says: People are living longer with men living 80.9 yrs and women 84.5 once they reach age 65. Modern medicine is keeping people alive longer, but most will need some form of long term care before they die.
The average United States citizen is living longer because of advancement in medicine, so there is now a much higher chance that a person will need long term care insurance to provide assistance because of cognitive illnesses such as Alzheimer’s and Dementia or degenerative diseases like Diabetes, Stoke, Heart problems, Cancer, and Parkinson’s Disease at some point in their lives.
Long Term Care is a service provided in a facility such as a nursing home - Assisted Living Facility or home health care when the nurse or aid will actual come into the person’s home a give care. Long Term Care is typically not skilled care but custodial which is help with every day activities of daily living (ADL’s) such as eating, bathing, dressing, transferring, toileting, and maintain continence. If you have Long Term Care Insurance most or all of your LTC costs can be paid, depending on which policy you buy.
The high average annual cost to receive long term care is the problem:
Nursing Home - $75,345
Home Care - $28,435
Assisted Living Facility - $36,829
In May 2007, according to an official at Genworth Financial's Long Term Care Insurance Review unit in Richmond, Virginia.
These high care costs can wipe out your retirement savings in no time. The average stay in a nursing home is 2.9 years and the average cost of nursing home care is now $218,500 per person or $437,001 for a married couple in today's dollars. Where will you get that kind of money? Who knows how much inflation will increase medical costs in the future because of the large number of Baby Boomers, but if you plan ahead today it will be just one less thing you have to worry when you curl up in bed at night. Consider Long Term Care Insurance.
What if you could protect yourself from possibly the greatest financial risk you will face in your retirement years? Imagine how relaxed you will then feel knowing that you planned ahead and are protected.
Get your Long Term Care Insurance quotes below.
Long Term Care Insurance will help:
- Prevent being a burden on your kids and family. It will also Protect your Nest-Egg (Savings) (IRA, 401K, CD’s, Stocks)
- Ensure quality care if you do need help because private pay typically gets better treatment than Medicaid (The U.S. welfare health system). Incidentally, having LTCI prevents you from running out of money and ending up on welfare.
- Maintain your independence and dignity by receiving home health care in your own home where you are most comfortable.
- Most importantly, long term care insurance will protect your quality of life as well as the stress levels for the people around you. "Relax, you've got a plan."
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