Who Needs Long Term Care Insurance?
Those who want to protect their assets
Don't want to burden their family
Want to maintain their independence & control their care
Long Term Care Insurance
Long-term care services may be necessary at any age. An older adult might gradually find that day-to-day living is becoming increasingly difficult without help, or they may develop Alzheimer’s Disease. Someone younger may have a heart attack, a stroke, a disabling accident or develop a serious chronic illness such as Parkinson’s Disease. Long-term care services are generally custodial and personal in nature but, in some cases, may be rehabilitative. Because neither medical insurance nor Medicare is primarily designed to pay for long-term care services, long-term care insurance can help provide a way for you to pay for this care. Long-term care insurance can help you retain assets set aside for retirement and can help you remain independent by providing the money to allow you to decide where and how your care will be provided.
Facts About Long Term Care
At least 70% of people over 65 will need long-term care services and support at some point in their lives. (Source: 2015 Medicare & You, Centers for Medicare & Medicaid Services)
For couples, there is a 91 percent chance that one spouse will require care. (“Do Retirees Need Long-Term Care Insurance?” USA Today, Sept 2010)
Medicare pays for only 2% of nursing‑home costs and about 15% of all home health‑care services.
A majority of Americans falsely believe that their medical insurance will pay for long-term care. (U.S. Department of Health and Human Services)
The cost of Long Term Care may range from $29,640 per year for in-home care to more than $94,170 per year for convalescent care. (John Hancock, Long-Term Care Cost of Care Survey)
Long‑term care includes medical, social and/or personal-care services required by a person with a chronic illness or disability over a long period. Designed to help seniors maintain independence, these services may be provided in the home, community, alternate living facilities, or nursing home.
Greenhaven Marketing offers traditional Long Term Care Insurance from; Genworth, Mutual of Omaha, and Transamerica. We also offer alternative Long Term Care coverage with a life insurance policy through Nationwide and Minnesota Life / Securian Life.
Have questions about Long Term Care?
Contact us on Long Term Care:
Call 800-227-4936 or Email
Women and Long Term Care Planning
Health care costs can be a big question mark because future health is somewhat difficult to predict. With the uncertainty of rising health care costs, it is hard to know exactly how much money you will need to save. View this infographic to better understand the importance of planning for health care costs in retirement.
Current News & Information