B C Evans & Company | ThinkLTC   

The Costs Of Not Having Planned For Future Needs

Do You Have A Right To Be Concerned?

Before you can feel comfortable about applying for long term care insurance, you must believe that the risk of needing long term care is real. If you’re not sure that you’ll ever need long term care, take a look at the following stats:
 
  • There’s a 43% chance that a person 65 years or older will eventually enter a nursing home sometime during their lifetime.
  • A year in a nursing home now averages more than $40,000, and can exceed $100,000 in some parts of the country.
  • Most nursing home stays are about two-and-a-half years.
  • It is estimated that seven in ten people will use home care.
  • Approximately 22.4 million families are involved in long term home care.
  • About 41 of every 1,000 Americans over 65 are in nursing homes.

Our emotion make us feel like we’ll never need long term care; but, as you can see from these statistics, it is a very real possibility that an American over age 65 could need home care, adult day care, assisted living care or nursing home care before the day of our passing.

Ask yourself the following questions: When you need long term care:

  • Where will you get your care?
  • Who will manage and coordinate your care?
  • How will you pay for your care?

 

Don’t "Crisis Manage"…… Have a PLAN

 

Sources: Harry W. Crosby LTC insurance… The Complete Guide