Long term care insurance can be confusing. However, in today's economic climate and with advances in medicine and medical technology it is a benefit that you cannot ignore.
In 1994, 7.3 million Americans needed long term care (LTC) services
at an average cost of nearly $43,800 per year. By 2000, this number
rose to 9 million Americans at nearly $55,750 per year. It's currently
near $75,000 per year. By 2030 those needing LTC will skyrocket to 23+
million Americans, with projected, individual long term care costs
reaching $300,000 annually per individual!
Will you have that kind of money to spare?
With a history of millions of Americans in care situations living
with longevity, elder frailty, stroke, Multiple Sclerosis, Parkinson's,
Alzheimer's, Spinal Cord Injury, Cerebral Palsy, accidents and other
conditions that affect over 50% of folks over age 65 , we can testify to the
need for mature thinking and adult decisions when it comes to long term
care planning.