Long Term Care Insurance
The need for Long Term Care can deplete personal assets at an incredibly rapid rate. The cost for Long Term care varies from person to person depending on the level of assistance needed. However, it is common to see expenses reach over $80,000 yearly for skilled care. The good news is that Long Term Care costs are manageable with proper planning
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What is Long Term Care? And, do you really need Long Term Care Insurance?
Long-term care is supervision or care provided by specially trained professional caregivers either in a facility like a nursing home or at a private residence. Long-Term care can become necessary due to a chronic illness, injury or just due to the aging process.
Long-Term Care can consist of assistance with the activities of daily living such as eating, dressing, transferring, toileting, bathing or even managing medications. Health insurance or Medicare do not cover long-term care. This type of coverage is purchased as a standalone policy. There are many options for Long Term Care to meet most needs and budgets.