Why Should I Buy Long-Term Care Insurance?

Quality of care takes on new meaning as we grow older and if we need extended chronic care because of illness or injury at anytime during our lives. Long-term care insurance provides benefits for all levels of care provided in the home, adult day care centers, assisted living facilities, or in nursing homes. For general information on Long Term Care, download "How Much Do You Really Know About Long Term Care? "

Paying for Care

Long-term care is a reality for many families charged with caring for a loved one. It is estimated that 22.4 million families have some caregiver responsibilities.* Download  " A Caregiver's Guide to Long Term Care " to learn more. That number will only increase as baby boomers continue to age. 

It should come as no surprise that the cost of extended personal health care can be phenomenal. By 2030, the cost for one year of nursing home care is expected to rise to $97,000.**

People often erroneously believe that Medicare and Medicaid will pay for their long-term care needs. These services, however, may place restrictions on qualification for benefits that make many people ineligible.***

For a resource guide from the State of Wisconsin Office of the Commissioner of Insurance, click on this link http://oci.wi.gov/pub_list/pi-047.pdf.

Financial Protection

Like other forms of insurance, long-term care insurance offers financial benefits. Because the cost of long-term care can pose a serious financial risk to your estate, long-term care insurance helps protect your assets by providing benefits that help cover the cost of long-term health or personal care.

Additionally, long-term care insurance lets you choose the type of care you can receive. You are not at the mercy of a welfare program, such as Title XIX, or your family's financial resources. Download "Are You Prepared to Pay for Long Term Care " for more information. 

Contact us to discuss your need for long-term care insurance today! 

*Source: American Association of Retired Persons, 1997. **Source: American Council for Life Insurance, "Who Will Pay for the Baby Boomers' Long-Term Care Insurance Needs?," Research Findings, April 1998. ***Source: Long-Term Care Your Financial Planning Guide, Phyllis Shelton.