Long Term Care Insurance: The Earlier, The Better
People find it hard to envision themselves needing hands-on assistance with basic living activities like bathing, getting dressed, and eating so they avoid thinking about it altogether. Statistics show that over 70% of people who reach age 65 will require long term care services at some point. The unknown factor is how long you will need to receive the care services. More long term care facts.
Waiting to address your long term care needs until the point at which you actually need care could have severe financial ramifications.
Consider the costs:
- 1 year of care today: $75,000
- 1 year of care in 30 years: $250,000
- 3 years of care in 30 years: $750,000
Perhaps the greatest benefit of Long Term Care Insurance is allowing your loved ones to care about you, instead of having to care for you. No one wants to be a burden to their family…hear more from Jane Shevey, Long Term care Specialist at R&R Insurance.
Wisconsin residents, if you would like more information on Long Term Care Insurance (LTC), please contact us.