Long-Term Care Insurance
Research shows nearly half of all Americans will need long-term care at some point in their lives, and one in five over the age of 50 is at a high risk of needing it in the next 12 months.
Additionally, the cost of long-term care services may be surprising.
The average costs are as follows:
- Nursing Home - $58,000
- Assisted Living Facility - $28,500
- Home Care - $23,000
With the average stay at 2 ½ years, for instance the average cost of nursing home care is now $145,000 per person or $290,000 for a couple.
That is why it is such a good idea to consider Long-Term Care Insurance as an integral part of a well-rounded financial plan. It may help protect your hard earned assets, and provide more control over how and where you receive care, should you need it.
Some mistakenly assume that most people receive long term care services in nursing homes. In actuality, a number of people in need of these services receive them at an assisted living facility or in one’s own home.
Not FDIC Insured | May Lose Value | No Bank Guarantee