According to the Association for Long Term Care, claims are on the rise. As consumers become more aware of this valuable protection, either my word of mouth, or having the unpleasant experience of financially taking care of a loved one, 63% of LTC buyers in 2007 were under age 55.
Who's buying Long Term Care Insurance? (issued by age)
Who's buying Long Term Care Insurance? (issued by age)
25 - 35 = 9%
35 - 44 = 18%
35 - 44 = 18%
45 - 54 = 36%
55 - 64 = 30%
65 - 74 = 6%
75 - 80 = 1%
Note: more than 30% of all claims are coming from individuals under age 65
Where are the claims expenses coming from?
17.2% = Assisted Living
33.8% = Home Health Care
44.5% = Nursing Home
Long Term Care is important for a variety of reasons, including protecting your assets, providing valuable cash to "choice" where your loved one will receive care and most important - allow your parents/spouse to preserve their dignity. I am sure that you will agree - I don't want my children to suffer financially or emotionally when it comes to my future healthcare needs.
These plans are not cheap, especially as you get older. Prices vary based on your selected benefits. When you purchase a plan, you will need to select;
These plans are not cheap, especially as you get older. Prices vary based on your selected benefits. When you purchase a plan, you will need to select;
- Do you want Home Health Care, Nursing Facility Only or a combination of both?
- How much money do you want daily? Most people select $100-$400 per day
- How long do you want to receive your benefit? 2 years, 5 years, or Lifetime?
- Do you want cost of living increases or any other feature available by rider?
Take control of your future healthcare needs today. If you wait too long, you may be unable to afford or medically qualify for coverage. If you do not have coverage, you may be admitted into a State facility, many of which offer substandard surroundings and care. For quotes or additional information, contact QuoteBroker
