Long-Term Care Insurance

Long-Term Care Insurance is one of the smartest ways to protect the assets of an aging population . It can help defray the costs of assistance for activities of daily living over an extended period of time.

Years ago Long-Term Care Insurance was a product most people had never heard of. Today, it is something they should not live without. While we are living longer, healthier lives, no one is immune to the effects of aging. In fact, it is estimated that 60% of Americans who reach age 65 will need Long Term Care at some time in their lives ( 1) As the baby boomer nears retirement, Long -Term Care Insurance should become a consideration. Long-Term Care Insurance protects the insured AND their loved ones in the event that extended care becomes a necessity.

Long-Term Care provides the insured with assistance in daily activities such as dressing, bathing, and eating. The insured receives assistance either at home or in a nursing facility. Benefits are generally paid when you are unable to perform two of the six normal activities of daily life ( bathing, continence, dressing, eating, toileting, and transferring [moving around]).

1. "Where does the Population Live and Who Cares for Them? LTC: Diverse, Growing Population Includes Millions of Americans of All Ages," U.S. General Accounting Office 1/01.