Let's face it, there's a chance you will never need Long Term Care. However, a study by the U.S. Department of Health and Human Services indicates that:
People 65 years old face at least a 50% lifetime chance of one day needing nursing home care. -Dept. of Health & Human Services
Only about 10% will stay there five years or longer.- The American population is growing older because modern medicine is keeping us alive longer increasing the odds you will need Long Term Care services.
- 71% of Long Term Care Insurance Claims are made by women.
- America's elderly population grew 11-fold from 1900 to 1994. (-US Census)
- At any given time, 22% of those 85 years old and older are in nursing homes around the country.
Your odds of entering a nursing home and staying for longer periods increase with age.
Long Term Care: Increasingly A Women's Issue
Since women generally outlive men by about five years, they face a 50% greater likelihood than men of entering a nursing home after age 65. While older people are more likely to need Long Term Care, the need for Long Term Care can come at any age.
40% of the 13 million people receiving Long Term Care services are between the ages of 18 and 64. -U.S. Government Accounting Office
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