The Basics of Long Term Care (LTC)
Levine Insurance Advisors
What is Long Term Care?
• Long Term Care, or LTC, is the kind of help you require for taking care of your personal needs, such as bathing, dressing, eating, continence, toileting and transferring.
• You might need this kind of help because of chronic medical or physical conditions resulting from accidents.
• Frequently, people with Alzheimer’s disease or other health conditions may need ongoing supervision as well as because of cognitive impairment/ dementia.
• Services to meet these needs include care at home or in a community program like adult care, as well as assisted living or nursing home care.
Did You Know?
• At least 70% of people over 65 will need LTC services or support at some point.
• 67% of all LTC insurance benefits are paid for care received by women.
How Much Will LTC Cost Me?
• According to the Genworth Cost of Care study, nationally the annual cost for LTC is approximately $98,600 per person.
How Will I Pay For LTC?
• Self-Funding: this could erode your nest egg.
• Family and Friends: this will burden their finances.
• Medicare/ Medicaid: the cost for LTC services is very limited.
• LTC Insurance: this will help you manage your lifestyle, protect your assets and savings.
DON’T WAIT UNTIL IT’S TOO LATE – ACT NOW – THE FINANCIAL RISKS ARE TOO HIGH – THE POTENTIAL BURDEN TO LOVED ONES ARE TOO GREAT TO DO NOTHING.
FOR ADDITIONAL INFORMATION CONTACT LEVINE INSURANCE ADVISORS.
YOUR LONG TERM CARE SPECIALISTS.
Levine Insurance Advisors
michael@levineadvisors.com
(949)275-6233
