Long Term Care Insurance
People are living longer and chances are that you will need help at some point in your life. Even though the life span continues to increase, many individuals are not prepared for an extended medical event such as long term care.
Are You Prepared?
Approximately 50% of Americans over the age of 40 believe most people will need long term care as they age, but only about 25% think they themselves will need long term care1
70% of adults incorrectly believe that Medicare will cover the cost of long term care events2
Nearly seven in 10 caregivers report making work accommodations because of care-giving responsibilities3
9.1 million Americans are expected to have dementia by 2040 and the cost of their care is expected to double in 30 years4
The Solution with Choices
Long Term Care Insurance is a good solution to help you prepare. Everyone has unique long term care and chronic care planning needs. Long term care insurance can pay for a wide range of care from help with housework to visits from a nurse to care in an assisted living facility or nursing facility.
The Markham Group represents companies with options to fit your unique long term care needs. Options such as a stand alone long term care insurance policy, a hybrid life insurance policy with long term care insurance or a chronic care rider included on a whole life insurance policy.
No matter how you choose to live out your retirement, long term care insurance can help you maintain your independence, stabilize your finances and remove the burden of care from your loved ones. It is never too early to discuss long term care insurance. Contact the Markham Group for a review.
Download: What You Need to Know About LTCI
1. Source: “Americans Seriously Unprepared for Long-Term Care. SurveyFinds” PBS, April 24, 2013
2. Source: ConsumerReports.org November 2013
3. Source: National Alliance for Caregiving and AARP, Caregiving in the U.S., 2009
4. Source: “Dementia Care Cost is Projected to Double by 2040.” New York Times , April 3, 2013.
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