Don't let long-term care expenses deplete your family's savings.
A long-term health care insurance policy helps pay for the care you need when you can no longer care for yourself. It may protect your family's financial future and your own investments and savings.
A big reason reason people may balk at buying long term care insurance is because they think it is nursing home insurance and skilled nursing home care is a very uncomfortable topic for most people. But, due to many advances in modern medicine and life-style changes, the number of people over the age of 65 is projected to double by the year 2050. Unfortunately, as people age, they are more likely to suffer from chronic illnesses such as strokes or Alzheimer’s. Statistically, Americans over the age of 65 face a 40% risk of entering a nursing home for Long Term Care services.
"People need to prepare before it's too late," says American Society on Aging.
Each year the U.S. elderly population continues to grow. As a matter of fact, the 80-plus segment represents the fastest growing segment of the population (they virtually never existed before).
Now more then ever employers are offering group long term care insurance in the workplace. This is not to be confused with health insurance which sometimes is described as long term health care insurance. It is of great importance to conduct a proper comparison and know the overall company rating of the carrier you are considering.