You Will Need Long-Term Care

When it comes to long term care insurance, some may opt to believe that they do not have a need or want for this type of insurance. The idea of never needing long-term care is a desirable one however, given that over 40 percent of  those who turn 65 or older will require a nursing home, this is not always likely. You should also note that most nursing home residents stay for up to five years and in in places like New York City, those costs can easily equate to $100,000 annually.


This is why it is important to plan ahead and look into purchasing Long-Term Care insurance in order to help minimize some major financial concerns. Do not get into the habit of believing you are the exception or that there’s no way you will need any type of long term care service until it’s too late. The reality is that people are now living longer and with that comes the increasing need for Long term care. The Family Caregiver Alliance estimates that 40 percent of the 13 million people who will need future long-term care are currently between the ages of 18 and 64.

The risk and cost of needing Long term care will only increase as the wait and those ages continue to rise. This is why it’s important to research all your options and plan for your future now. Once you find a policy you should also consider that there may be a waiting period before you can access your policies benefits. For example with some policies, you can only receive benefits once you or a loved one requires help with “daily activities” which include; bathing, getting dressed, eating and help moving around.

Experts and professionals from all over constantly suggest that long-term care is more of a necessity than we sometimes realize. “There really is never a bad time to purchase long-term care insurance, given that so many of us will eventually need this care,” says Britt from Nationwide. “While it costs less to buy it when you’re young, if you qualify at any age for the insurance you should have it — period.”

If you or someone you love is interested in learning more about Long Term Care Insurance be sure to visit: LTC TREE for more information.