Welcome to LTC Tree.com, the number one site for Long Term Care Insurance comparisons of all the top blue-chip LTC companies. We provide Long Term Care Insurance quotes, rates, reviews, ratings, company comparisons and other cost information that will help you save money on your Long Term Care Insurance purchasing decision.
We start with the foundational concept that Long Term Care Insurance is like any insurance, you may buy the coverage and never even use it. Thus, finding that balance between too much insurance and too little is what we help our clients drill down to achieve.
- Is Long Term Care Insurance worth the cost?
- Smart Numbers-Crunching the numbers on Long Term Care Insurance
Long Term Care Insurance
Long Term Care Insurance is more than just ordinary retirement planning. It removes the worry of having to earmark your nest egg for the uncertainty of needing care, so you can enjoy doing the things that make you happy.
- Harvard Magazine says that women are living an average of 81.4 years and men are living an average of 76.8 years. Advancements in medicine increase the chance that a person will need long term health care. More LTC statistics.
- New England Journal of Medicine reports that about 51% of people 65 years and older will eventually need these services.
- The Wall Street Journal states that a staggering 55% of seniors 85 and older have Alzheimer’s or some other form of dementia, the number one reason for needing assistance. WSJ also reports that even children are buying policies for their parents to protect their inheritance.
Longevity Increases Need.
Modern health technology is helping the average United States citizen live a longer life. This extended longevity is increasing the likelihood a person will need Long Term Care services at some point during their life. In addition to Alzheimer’s and dementia, there are other degenerative diseases such as obesity, diabetes, stroke, heart problems, cancer, Parkinson’s disease as well as accidents and injuries resulting in things like bone fractures which may also create the need for services. Long Term Care Insurance can help pay for the cost of caring for those conditions so you will have peace of mind knowing you are protected if it were to happen to you.
What Does Long Term Care Insurance Pay For?
Your Long Term Care Insurance benefits can be used to pay for Home Health Care, Assisted Living Facilities, Adult Day Care and Nursing Homes. In fact, 72% of all LTC claims are paid for Home Health Care. This service is where an aide comes into your home to help with with your Activities of Daily Living and also provide help with cooking and cleaning. Long Term Care Insurance will help ensure you will be able to stay in your own home to receive care.
The problem: The high cost of needing Long Term Care could drain your life savings.
When planning, consider the high average annual cost of receiving Long Term Care:
- Nursing Home – $86,525
- Assisted Living Facility – $46,880
- Home Care – $42,215
The solution: Plan ahead with Long Term Care Insurance.
The high cost of receiving Long Term Care can erode your nest egg that you have worked so hard to save. The average stay in a nursing home is now 3.3 years. That length of time adds up to an average cost of $285,532 per person or $571,065 for a married couple. That high expense is figured at today’s costs and inflation will likely triple that cost in the next 30 years. The plan will have inflation protection so your benefits do not lose purchasing power over time.
What if you could protect yourself from the greatest financial risk you will face in your retirement? Having Long Term Care Insurance coverage can save your nest egg and your retirement. Imagine how relaxed you’ll feel knowing that you planned ahead and now you and your family are protected.
LTC Tree’s assistance was invaluable in helping us decide which Long Term Care Insurance policy was best for us, while saving us money and providing peace of mind. -Kelly W. –>More Testimonials
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Maintain your independence. It allows you receive Home Health Care in the comfort of your own home.
Protect your Nest Egg (IRA’s, 401K, CD’s, Stocks). It will help you avoid depleting your investments, losing your home, and then receiving substandard care from a Medicaid-welfare nursing home.
Avoid being a burden on your family. Purchasing a plan will prevent you from ever having to ask your kids or family to take care of you.