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Long-Term Care

According to the U.S. Department of Health and Human Services, at least 70 percent of people over age 65 will require some long-term care services at some point in their lives.* But, what is long-term care and how do you know if you need long-term care insurance?

Current Insurance Policies

  • What coverages do I have to address the need for long-term health care?
    • Disability income insurance doesn’t cover in-home care or nursing home costs.
    • Health insurance doesn’t cover them either.

Immediate and Extended Family

  •  How am I going to care for parents and/or in-laws as they get older?
    • Nursing Home? Assisted Living? Your house? Their house?
    • Will they need full-time help or part-time?
    • Will this be a long-distance care situation? If so, how often will I be able to check on the conditions personally?
  •  How much will it cost to take care of my parents and/or in-laws?
    • Nursing home, assisted living, or private home?
    • Full time or part-time?
    • Do I need to build in the cost for travel?
  •  How long do I have before I have to address these issues?
    • Can I afford to let it become a crisis?
  •  Do I have enough assets to cover the cost of care without taking out additional insurance?
    • What/How much would I have to sell?
    • What impact would this have on our lifestyle?
    • Will I be able to afford retirement where and how I planned?
    • Can I cover the care for my parents, in-laws, and myself without it becoming a burden?
  •  Are there steps I can take at a younger age to help defend me against the skyrocketing costs of this care?
    • Enroll at work
    • Enroll on your own

* https://acl.gov/ltc

 The information provided is only applicable to residents of Connecticut, New Jersey or New York. This information provided is not intended for residents outside of these states.  LTC4 CRN202604-4325758

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