This is a disturbing stat: according to the US Department of Health and Human Services, 70% people 65 and older will need long term care, sooner or later. With numbers like that, everyone is affected in some way.
In the words of Rosalynn Carter, former First Lady, "There are only four kinds of people in this world ... those who have been caregivers, those currently caregivers, those who will be caregivers and those who will need caregivers "
intelligent lady, Ros Carter.
most. talk about long-term care revolves around the cost of nursing homes, assisted residences and formal home care. Of course, these expenses can be massive . But the long-term care situations have hidden costs as well :. The price paid by family members who spend much of their time as caregivers
Numbers Do not Lie
Earlier this year, Genworth (most significant care insurance provider long term in the country) data compiled from a group of caregivers and care recipients in a report beyond 2015 Dollars .
study found that 62% of caregivers to help provide financial assistance for the care of their relatives to pay about $ 10,000 per year out of pocket expenses. In addition to this, most caregivers (77%) had to take time away from their paid jobs; they missed an average of 7 hours per week.
Twenty-six percent reported missing career opportunities.
What can you do to be ready?
The short answer is ... look to the future NOW! Beyond Dollars also found that the preparation of long-term care in advance reduces the financial impact in a major way - not to mention the emotional and physical relief that comes with early planning. And the sooner you start caring for the long-term planning, the better.
Another spring, which statistic is that respondents felt that $ 8,000 $ 10,000 out of pocket expenses could have been saved if they had started preparing earlier.
In other words, you must act as soon as possible! The video below gives a quick overview of the operating time of long-term care insurance and what it can do for you:
AccuQuote is there to help you understand the different care longer life time insurance options that may be available to you. Whether a stand-alone policy or a LTC rider on a life insurance policy, we are here to support you
Protect your financial future -. And the future of your loved ones. Give us a call 800-442-9899 today!
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