In September, I wrote a post about the long-term care (LTC) because I sourced in USA Today play on the subject. I barely scratched the surface, though.
Now we are in November, and is LTC Awareness Month. But there's a pretty good chance that you will need long term care MONTHLY when you get older (and not only in November). Here are some details on the long-term care insurance (be careful, because the statistics say you will probably need!):
What
well, let's say? start with what long-term care is; it is what you will probably need when you are older (read on to learn how it is likely that you will need it).
long-term care insurance is what can help you pay for that care, which costs a lot and now only going to increase.
Of course, you do not want to think about growing old, wearing a coat, and not be able to take care of you. But as long as you're alive, that day will probably come. And when he does, where does the money come from for the care
Answer:. The assurance of long-term care
Why do you need
[?Because the LTC costs are enormous, will eat your savings, and you could or your family cause to die broke. In other words, long-term care is a huge threat to your retirement plans.
How much of a burden do you plan to be in your family in your "old"?
to date, live in care costs $ 0 a day. A nursing home is more than $ 300 per day. Do the math. That's $ 180,000 per year for a couple. If you can not afford it, your family bears the brunt of these costs.
Think you'll end up not needing long-term care? Think again
FACT: There is 91% chance that you or your spouse will need long-term care
FACT: 70% of people over 65 will need help being some kind in their lives (and Medicare pays only for short periods of care)
Bottom line: long term care insurance should not be an option ; it should be a key and necessary part of your financial plan.
How long-term care policies work?
Nobody is passionate about buying long term care insurance ... ... pay premiums and to overcome what life will be like a day you actually need care. Nobody wants even think about it. But it is important to learn how it all works
In order to receive benefits, most long term care policies require that you or :.
- Have severe cognitive impairment (ie Alzheimer) OR
- are unable to perform (without assistance) two or more of the six activities of daily living (ADL)
six ADLs are :. eating, dressing, bathing, toileting, continence, and transferring (transfer is the ability to get out of a chair and walk across the room and sit in a chair while unattended)
How much does it cost?
it depends on a few factors, including your age, sex, current health and the amount of coverage you want. You can buy a little, a lot, or not at all; it's up to you. If you want details on prices and plans, call us at 877-08-5089
Think about this ...
The chances of your home burn are 1 in 1,0. But who in their right mind goes without home insurance
The chances of having long-term care needs are much greater (91%)?; can you really afford not to have a long-term care insurance?
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