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Financial Products
Mutual Funds, Annuities, Insurance
Planning for potential long term care is something that should be addresses before the need arises. Long Term Care Insurance helps you protect your assets and ensures that you receive appropriate care in a comfortable setting.
- Statistics show that 50% of all Americans over age 65 will spend some time in a nursing home.
- Only 6% of adults over the age of 65 own a Long Term Care Insurance policy.
- Historically, Medicare has paid for less than 2% of long-term care costs in the U.S.
- Disability insurance does cover lost wages, not long term care.
- Medicaid may provide long term care BUT only if a medical need exists and your assets are depleted.
- The average cost of one year in a nursing home is $54,900 and the average stay is 2.3 years.
- More than half of all women and one third of all men who live to be 65 are expected to spend time in a nursing home by the time they die.
- Children often underestimate the financial and physical burden of caring for aged parents.
It is never too early to begin researching your options for potential long term care needs. Act now. If your health declines you may not be issued a policy.
The best time to plan for Long-Term Care is before it is needed. Long-Term Care Insurance can help to protect assets, avoid dependency on others and retain the freedom of choice for those insured. You might even consider buying Long Term Care Insurance for your parents. Doesn't it make sense to protect yourself and your loved ones against the risk that is most likely to happen and is probably the biggest threat to your financial health?
Iinsurance products should be selected with the same consideration given to your investments. There are many insurance products with many variables, including Long-Term Care providers, from which to choose. It is important that the products selected fit your financial goals and risk tolerance.
Find more information about Insurance Services provided through Janney Montgomery Scott LLC.
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