Why Long Term Care Insurance....

Without proper planning, LONG-TERM CARE can be the greatest threat to our assets today, and we're not just talking about nursing home cost, because 85% of long-term care is extended care at home or in community like assisted living or even adult day care.

The need for long-term care doesn't just affect older people. In fact, 40% of people needing it today are adults between the ages 18 and 64 who've been injured in accidents or suffer from conditions like multiple sclerosis or strokes.

Long-term care is very expensive and costs anywhere from $33,000 to $100,000 a year on up, depending on where you live, for either an eight hour shift at home or a semi-private day in a nursing home with drugs and miscellaneous supplies. This cost is going higher every year. Moreover the life expectancy of an Alzheimer's patient is from three to 20 years, and if both you and your spouse need care, you can see how these numbers explode.

Unfortunately, most long-term care expenses are paid for out of people's pockets, out of savings they have accumulated to enjoy their retirement. Why? Because long-term isn't covered by Medicare and other familiar forms of insurance like group or individual health insurance, Medicare supplements, retiree health plans, HMOs, VA plans or disability income plans. And the odds of the government helping you are so low. You have to be down to $2,000 in assets before Medicaid will help. On the top side of all this, the odds of needing long-term care are greater than 50%, much higher than being in a car accident or losing a house by fire - and often at a greater cost than losing your whole house.

Think about it: You don't look out your bedroom window and see one out of every two houses burning, and then decide not to have homeowner's insurance.

Right now your assets are your insurance policy against a risk that is very expensive, very likely to happen and will not be paid by anything else. Do you see a reason why you wouldn't want to protect yourself and your family so you can have peace of mind in case something happens to you? Plus you are making sure that you can look forward to a comfortable, worry-free retirement with financial security.