Unless you're really, really broken or really, really rich, there is a very good chance you'll need some sort of long-term care (LTC). If you are extremely rich or dirt poor, go ahead and give this blog (but come back in a week or for the next!).
But for those who fall into the great middle of these two categories is almost everyone, by the way you'll want to keep reading.
who needs long-term care?
The short answer to this question is most of us.
Nobody wants to think about getting older, wear diapers, and not be able to go through life without assistance. But this stuff really happens! And if you're one of the vast majority of us who eventually need care, long term care policy will prove to be the smartest investment you can make.
Let's see how you do on the following quiz question
The chances of you or your spouse have long-term care needs are:
- a) 25%
- b) 47%
- c) 61%
- d) 91%
answer: There is a 91 percent chance that you or your spouse will need long term care. Whether it sink in for a second.
When this happens, if you do not have the long-term care insurance, you may end up others (probably your children) to cover the cost of care. This is, of course, once you've depleted your savings of a lifetime.
What will happen if you do not buy long term care insurance?
As I mentioned in Rodney Brooks in USA Today, a few years to pay for care can ruin you financially. So, before rejecting care insurance as nonessential or luxury, ask yourself how much of a burden that you plan to be in your family.
So what is the bottom line?
70 percent of people over 65 will need LTC. Of course, you could find yourself in the 30 percent group who does not need, but do you really want to take that risk? Can you afford to take that risk?
The cost of a caregiver can add up to $ 10 per week, plus meals. An assisted living facility costs about $ 3,000 a month
Here are some numbers to think (I know about this stuff first hand) :. Both of my parents (mum is 81 Dad 84) currently receiving long term care. Dad is at home with live-in care - $ 0 per day. Mom was recently in a nursing home - more than $ 300 per day. Do the math. That's $ 180,000 per year for two of them.
I think you'll agree ... These costs are staggering . And the costs increase each year.
If you have a mattress full of money or your children are wealthy, you will likely OK. But otherwise you might die broke. My parents probably.
Fill out a quote request care insurance long term and find out how affordable LTC insurance may be for you.
0 Komentar