72% of Women Will Need Long Term Care After Age 65

Written by
December 9th, 2012

For millions of Americans, celebrating an 80th, 90th and even a 100th birthday is increasingly likely. When you live a long life, there is a very high probability that you will need the type of care that’s referred to as long term care. 72% of women and 44% of men will need some form of long term care after reaching age 65. (A woman’s risk is higher because she has a longer life expectancy.)

Needing long-term care places an enormous emotional and physical strain on loved ones and family members. That’s why having a plan is so important. Incorporating long term care (LTC) insurance into your financial plan can help you protect your assets. It can reduce the burden of care that would otherwise fall on family members and enable you to receive care in the setting you most prefer, including your home.

What’s the most important question to ask?

Start with the ones like, “Where do I ultimately want to receive care?”  (at home, in an assisted living community) and “What does care cost where I live now?” – or wherever you plan to reside.

When looking into long term care insurance, ask what discounts you qualify for. If you or a spouse have some health conditions or take prescription medications, ask which conditions are acceptable as they can vary from one insurer to another.

For more questions on long term care insurance, contact our Certified Long Term Care Specialist Jane Shevey at jane.shevey@rrins.com or call 262-953-7123.

Information taken from American Association for Long Term Care insurance.



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