Long Term Care Insurance
Long-term care insurance is a cost-effective way to help protect your family and
assets. It can provide you with the control and security to help cover the cost of
long-term care services and the independence to choose where to receive care.
Long-term care is the type of assistance people need to perform normal daily
activities such as eating, bathing, dressing, and transferring locations. Long-term
care needs typically arise as part of the normal aging process, injury, illness or due
to a cognitive impairment.
You’ll want to consider LTC insurance if you want to:
• Feel confident about your hard-earned investments and help protect your
retirement savings and assets
• Be proactive and responsible for reducing the burden of care that often falls
on family members
• Take control of your long-term care decisions and maintain the independence
to choose where you receive care
The Costs of Long-Term Care Services:
The costs of long-term care services are significant and they are currently rising a
bit faster than inflation. By 2026, the daily rate could hit $486 a day, or $177,000 a
year. 1
The average yearly costs tell the story:
• Nursing Home - $68,988 (semi-private room) 2
• Home Care - $24,700 3
• Assisted Living Facility - $35,628 2
Those costs can quickly add up. With the average stay at 2.4 years 4, for instance,
the average cost of nursing home care is now $139,200 per person or $278,400 for
a married couple
Once you are aware of the costs associated with long-term care services, and how
these costs can impact your retirement savings, it is important to consider the
options you may have. If you haven’t taken the time yet to give this topic careful
thought, you’re not alone: Unfortunately, a substantial share of American
households have not prepared adequately for their income and health care needs
during retirement.
Why should I buy now?
You should purchase coverage at your current age:
• Since Premiums generally increase as age increases, your premiums may
never be lower than they are today.
• You'll most likely pay far less in total premium outlay.
• You’ll avoid the potential risk that future changes in your health would
jeopardize your insurability.
• You or a loved one could need long-term care services in your home or
elsewhere as a result of a disabling disease, such as (Multiple Sclerosis, Parkinson’
s, Alzheimer’s, or Stroke) or a serious accident or illness — situations that could
happen at any age, regardless of your prior health. Having family or friends act as
caregivers may not always be a realistic option, especially on a full-time basis.
Where Can I Receive Care?
Long-Term Care Insurance can help you preserve the savings and assets you've
worked a lifetime to build. With a wide range of benefits, you can help ensure that
you will be able to get the type of care you need, where you want it.
Depending on the coverage chosen, including services you require and other
considerations, your options may include:
• Home Care — for most people, the option to receive care in the comfort of
their home is the choice they prefer most. Long-Term Care Insurance offers
coverage for care generally provided by a licensed nurse, or a licensed physical,
occupational, speech or respiratory therapist. You can also receive care or
services from a certified private aide, home health aide, homemaker, or from a
care advisor from a care management organization.
• Adult Day Care Center — offers care, health support and rehabilitative
services for adults during the day.
• Assisted Living Facility — for many, these licensed (where required) facilities,
provide a great way to receive skilled nursing or custodial care in an environment
that helps maintain independence and an active lifestyle.
• Nursing Home — your Long-Term Care Insurance policy will provide coverage
for all levels of care, from skilled to custodial, in a Nursing Home.
• Informal Care — many people would prefer to have a friend or loved one
provide the care they need at their home. Care you receive at home from friends,
neighbors, or relatives who are not health-care professionals. Some programs
allow a benefit that provides some compensation to cover this care
1. "Facing up to the costs of long-term care," CNNMoney.com, October 2007.
2. Metlife Mature Market Institute, "The MetLife Market Survey of Nursing Home & Assisted Living Costs," October 2008.
3. MetLife Mature Market Institute, "The MetLife Market Survey of Adult Day Services & Home Care Costs," September 2008.
(Based on $19/hour, 5 hours a day, 5 days a week for a home health aide.)
4. The George Washington University, "Retirement Saving and Long-Term Care Needs: An Overview," The Retirement
Security Project, September 2004.
Long-term care insurance is a cost-effective way to help protect your family and
assets. It can provide you with the control and security to help cover the cost of
long-term care services and the independence to choose where to receive care.
Long-term care is the type of assistance people need to perform normal daily
activities such as eating, bathing, dressing, and transferring locations. Long-term
care needs typically arise as part of the normal aging process, injury, illness or due
to a cognitive impairment.
You’ll want to consider LTC insurance if you want to:
• Feel confident about your hard-earned investments and help protect your
retirement savings and assets
• Be proactive and responsible for reducing the burden of care that often falls
on family members
• Take control of your long-term care decisions and maintain the independence
to choose where you receive care
The Costs of Long-Term Care Services:
The costs of long-term care services are significant and they are currently rising a
bit faster than inflation. By 2026, the daily rate could hit $486 a day, or $177,000 a
year. 1
The average yearly costs tell the story:
• Nursing Home - $68,988 (semi-private room) 2
• Home Care - $24,700 3
• Assisted Living Facility - $35,628 2
Those costs can quickly add up. With the average stay at 2.4 years 4, for instance,
the average cost of nursing home care is now $139,200 per person or $278,400 for
a married couple
Once you are aware of the costs associated with long-term care services, and how
these costs can impact your retirement savings, it is important to consider the
options you may have. If you haven’t taken the time yet to give this topic careful
thought, you’re not alone: Unfortunately, a substantial share of American
households have not prepared adequately for their income and health care needs
during retirement.
Why should I buy now?
You should purchase coverage at your current age:
• Since Premiums generally increase as age increases, your premiums may
never be lower than they are today.
• You'll most likely pay far less in total premium outlay.
• You’ll avoid the potential risk that future changes in your health would
jeopardize your insurability.
• You or a loved one could need long-term care services in your home or
elsewhere as a result of a disabling disease, such as (Multiple Sclerosis, Parkinson’
s, Alzheimer’s, or Stroke) or a serious accident or illness — situations that could
happen at any age, regardless of your prior health. Having family or friends act as
caregivers may not always be a realistic option, especially on a full-time basis.
Where Can I Receive Care?
Long-Term Care Insurance can help you preserve the savings and assets you've
worked a lifetime to build. With a wide range of benefits, you can help ensure that
you will be able to get the type of care you need, where you want it.
Depending on the coverage chosen, including services you require and other
considerations, your options may include:
• Home Care — for most people, the option to receive care in the comfort of
their home is the choice they prefer most. Long-Term Care Insurance offers
coverage for care generally provided by a licensed nurse, or a licensed physical,
occupational, speech or respiratory therapist. You can also receive care or
services from a certified private aide, home health aide, homemaker, or from a
care advisor from a care management organization.
• Adult Day Care Center — offers care, health support and rehabilitative
services for adults during the day.
• Assisted Living Facility — for many, these licensed (where required) facilities,
provide a great way to receive skilled nursing or custodial care in an environment
that helps maintain independence and an active lifestyle.
• Nursing Home — your Long-Term Care Insurance policy will provide coverage
for all levels of care, from skilled to custodial, in a Nursing Home.
• Informal Care — many people would prefer to have a friend or loved one
provide the care they need at their home. Care you receive at home from friends,
neighbors, or relatives who are not health-care professionals. Some programs
allow a benefit that provides some compensation to cover this care
1. "Facing up to the costs of long-term care," CNNMoney.com, October 2007.
2. Metlife Mature Market Institute, "The MetLife Market Survey of Nursing Home & Assisted Living Costs," October 2008.
3. MetLife Mature Market Institute, "The MetLife Market Survey of Adult Day Services & Home Care Costs," September 2008.
(Based on $19/hour, 5 hours a day, 5 days a week for a home health aide.)
4. The George Washington University, "Retirement Saving and Long-Term Care Needs: An Overview," The Retirement
Security Project, September 2004.
| We look forward to hearing from you! Phone: 913-384-3030 Fax: 866-596-2125 Questions@USAinsurancecoverage.com |
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