Do I Need Long Term Care Insurance?

The need for long term care insurance comes at you in a number of different ways. It may occur gradually as you need more and more help with the daily activities of life or suddenly after a major illness. You may need care for only a short time or many months, years, or even the rest of your life.

While it is hard to say if you will need long term care or not, there are reasons why the chance is likely:
  • Life expectancy has increased greatly in the last 60 years and the longer people live, the greater the changces they will need assistance due to chronic conditions.
  • About 12.8 million Americans of all ages requires long term care, but only 2.4 million live in nursing homes.
  • About 44% of poeple reaching the age of 65 are expected to enter a nursing home at least once in their life. Of those people, 53% will stay for one year or more.
Other factors that help determine if you need long term care insurance are cost and current health. If you are on a fixed income and have limited assets you may not be able to afford the premiums. If you have health problems you may not qualify for a policy. To find out if you are able to afford and qualify for long term care please click here for a long term care quote.

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