Long Term Care Insurance in VA & WV
Why should you plan?
Approximately 50 percent of people over age 65 will require some long-term care services at some point in their lives. And contrary to what many people believe, Medicare and private health insurance plans do not pay for the majority of long-term care services that most people need. Planning is essential.
What is LTC?
LTC is a variety of services and support to meet health or personal care needs over an extended period of time due to a physical or cognitive disability. These services can be offered in your home or a facility such as assisted living or nursing home. Most long-term care is non-skilled personal care assistance, such as help performing everyday Activities of Daily Living (ADLs), which are: bathing, dressing, toileting, transferring (to or from bed or chair), caring for incontinence, and eating.
How much insurance coverage would I need?
Historically, women need longer care than men:
- Women – Average care needed = 3.7 years
- Men – Average care needed = 2.5 years
The cost of LTC
Long-term care is expensive:
- One year of care in a nursing home = $68,000 (2008 average, semi-private room)
- One year of care at your home = $20,000
Who pays for LTC?
Based on statistics, long term care has become an integral part of financial planning. Without protection, the costs can be financially devastating. While there are many ways to pay for the costs, none are more affordable or practical than long term care insurance.
Using an LTCI expert who is appointed with many different companies and who has intimate underwriting knowledge of these companies is the best way to ensure you receive the right policy at the right price from the right company.
Up to 35% discounts for both spouses
For a personalized quote or rate comparison, click here.
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