The Rising Cost of Care Makes Long-Term Care Insurance More Valuable
How much does assisted living cost today? What about a nursing home? Do you have any idea how much it would cost to hire an in-home health care aide, a visiting nurse for full-time, 40 hours a week care?
Most people don’t have any idea just how much these options cost today. That’s because most people don’t need to think about it. The only time people have a tendency to think about these things is when an aging parent, spouse, or other loved one is suddenly facing the prospect of requiring some type of long-term care.
Long-Term Care Insurance Companies Rancho Penasquitos CA – The Rising Cost of Care Makes Long-Term Care Insurance More Valuable
Because of this, they rarely think about long-term care insurance.
When a person is not faced with the possibility of requiring some type of expense they didn’t count on, it’s easier to ignore. Few people ever think they might require some type of long-term care in the future.
Yet, as people age the risk of needing this type of support and even health care increases with each passing year.
The cost of long-term care continues to increase.
Depending on where you live in the country, an assisted living facility might cost somewhere around $65,000 a year or over $100,000 per year. It depends on numerous factors, including the facility, the type of care they offer, and so on.
The average cost in the United States for a nursing home is $85,000 per year. In Alaska, for example, the average cost is well over $300,000 per year already.
If that doesn’t take your breath away for just a moment, you may have more money than you know what to do with and paying for a nursing home for five years wouldn’t even cause you to bat an eye.
For the rest of us, though, that could completely wipe out our savings and all our investments quickly.
That’s why long-term care insurance is so vital.
Make no mistake about it: at some point in time you or someone you know and love may very well face the prospect of requiring long-term care. Who’s going to pay for it?
If you assume Medicare or Medicaid will cover it, you may not understand this coverage. Before Medicaid will pay for any type of long-term care, most notably a nursing home, that individual will have to have used all their savings and equity in their home.
In other words, they would have to essentially wipe themselves out financially paying for it themselves before the federal government will step in and provide coverage.
Long-term care insurance is designed to help protect people and their savings for their future. As the cost of long-term care continues to increase, the value of long-term care insurance continues to rise. So don’t wait. Look into it now and call our company for a quote.
If you or a loved-one are considering Long-Term Care Insurance Companies in Rancho Penasquitos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning
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