“For a couple turning 65, there is a 70% chance that one of them will need long-term care.” – Wall Street Journal
“60% of people over 75 need long term care. The average facility stay for older folks is about 3 years.” – Business Week
“Over 50% of all people entering a care situation are penniless within one year.” – Harvard University
Long Term Care Insurance provides income should you end up requiring extended care. Long terms care typically includes rehabilitative care, nursing care, personal and in-home health care.
Long Term Care Insurance protects you in the event you have to enter a long term care facility. It can also help should you ever require at home health care assistance.
The most popular type of long term care policy is one that provides income to you to provide for any type of long term care service. Other types of policies reimburse you for eligible expenses or pay a set daily amount for expenses.
Question or concern about Long Term Care Insurance?
Todd Darling, CFP, of Darling Financial Group serves the greater Three Hills, Alberta area.