What would happen if you faced a long-term care condition?

How will you pay for expensive home health care or stays in an assisted living or nursing facility? Many consumers don’t consider the effects of long-term care as they build their retirement portfolios.

Long-Term Care Facts

  • As many as 70% of those turning age 65 will need some form of long-term care (Longtermcare.gov)
  • One out of four adults 45 years or older are not financially prepared for long-term care expenses (AARP)
  • The average annual cost for home health care is $50,340 (Genworth)
  • The average annual cost for assisted living facility care is $48,000 (Genworth)
  • The average annual cost for a semi-private room is $89,292 (Genworth)
  • The average annual cost for a private patient room in a skilled nursing facility to $100,380 (Genworth)
LTC Graphic

Those needing long-term care may have acute conditions or have difficulty with simple, daily living activities – such as bathing, eating, or dressing. A long-term care condition can quickly become expensive and threaten your retirement funds. Without proper planning, you may not be able to recover those costs due to impairment and reduced earning time. The risk is even greater for those who are several years into retirement.

As you plan for retirement and develop your financial strategies, make sure that you consider the effects of long-term care. Long-term Care Insurance can provide the help you need should you face a debilitating condition and protect your retirement assets.

LTC Insurance Policies could cover:
  • Respite or Hospice Care
  • Assisted Living / Nursing Home Care
  • Skilled Nursing / Home Health Care
  • Occupational, Speech, Physical, Rehabilitation Therapy
  • Daily Living Assistance