Help Protect Your Savings & Assets With Long-Term Care Insurance
Long-term care insurance coverage is designed to help you pay for the costs associated with nursing home care, home health care and assisted living facilities as you grow older. This kind of additional insurance can help maintain your financial independence for a longer period of time.
Keep in mind, too, that the best time to obtain long-term care insurance is while you’re young and healthy — before you may see the actual need for it — since premiums can significantly increase with age.
Depending on your own personal health and family longevity, you might someday need assistance with many of the activities of daily living, like eating and dressing. That’s when having long-term care insurance can help. Being able to pay for professional care can also lessen the financial and emotional burden on your loved ones.
If you have a strong desire to protect your savings and assets — which you’ve worked very hard to accumulate during your life — then a long-term care insurance policy could be an excellent investment in your future. Aines, Carter & Associates has formed strategic partnerships with several companies to provide you with insurance for your needs. We have chosen these partners because they demonstrate the same commitment to quality customer service.
If you or a loved-one are in your 50s or 60s, you may want to learn more about long-term care insurance. This is a good place to start, but for information tailored to your specific needs, speak with a Aines, Carter & Associates agent. Our agents know what questions to ask, and can help you choose insurance that meets your needs.
Is Long-Term Care Insurance Right for You?
If you become chronically ill – because of a cognitive impairment, or because you’re unable to perform at least two activities of daily living without substantial assistance – long-term care insurance could help pay for the care you need. Depending on the level of care required, it may be provided in a nursing home, and alternate care facility, or even at your home.
In addition to helping pay the costs of long-term care, long-term care insurance may help to provide these benefits:
- Protect your savings and other assets
- Preserve your independence
- Exercise your own choices
- Avoid government dependence
- Maintain a better quality of life
The Costs & Risks
- A nursing home stay costs an average of $87,000 per year according to a recent, national study, and this is just one of many costs associated with long-term care.*
- If you’re unable to pay for long-term care when you or a loved one needs it, you may need to spend down your assets to become eligible for Medicaid to pay the costs of care.
- 70% of those over 65 will need long-term care at some point in their lives.*
- 40% of all adults in the United States require long-term care before they reach the age of 65.*
* From the Genworth 2014 Cost of Care Survey, conducted by CareScout®, 2014.
If you’d like to know more about long-term care insurance, what it costs, how it works, and to purchase a policy, please speak with a Aines, Carter & Associates agent.