Posted: March 29, 2019
Submitted by: http://www.altcp.org/
Top 10 Reasons to Get Long Term Care Insurance
One of the primary concerns of aging Americans today is long term care. Around 7 out of 10 of Americans 65 and above will require some form of long term care, which is expensive.
It would cost you around $100,379 for a private room in a nursing home for a year while a semi-private room would cost you $88,348 for a year. Without insurance for long term care, you might end up exhausting your retirement savings or worse, you’ll become a financial and emotional burden to your loved ones.
Long term care insurance is a financial tool that helps people pay for nursing home, assisted living facility, home care and other types of long term care that an individual might require due to old age, illness or injury. By having this type of policy, you can age the way you want and receive proper care in the right facility. This is also perfect for women since they live longer than men, which means they might need long term care for an extended period of time.
If you’re still thinking if you should buy long term care insurance, this infographic by Association for Long Term Care Planning can help you understand how this policy works and how it can benefit you and your family in the future.
Original Post: Top 10 Reasons to Get Long Term Care Insurance