What is Long-Term Care?
Long-term care (LTC) is the assistance that is provided to people who are unable to perform the Activities of Daily Living (ADLs) that healthy, fully-functional people do independently and on a daily basis.

There’s a good chance you will need long term care at some point, and as you can see it its expensive. Insurance allows you to transfer all or part of this risk and hold onto your retirement nest egg. Another way benefits would be used is by cognitive impairment such as Alzheimer's.

Most people don't realize that 80% of long term care is related to home care such as adult day care centers, assisted living facilities, Alzheimer's centers, hospice, etc.

With the average person purchasing a Long-Term Care program in his or her 50's many business owners and key executives need to be aware NOW of tax advantages available to them when it comes to purchasing Long Term Care. Note that the cost of waiting just 5 years, can see the premiums increase 70% and you have to be insurable.

The Costs of Long-Term Care Services
*It’s no wonder that long-term care insurance is one of the fastest-growing insurance plans on the market today: the costs of long-term care services are significant – and estimated to climb to $190,600 per year by 2030!

The average yearly costs tell the story:
Nursing Home - $58,000
Home Care - $23,000
Assisted Living Facility - $28,500

Those costs can quickly add up! With the average stay at 2.4 years, for instance, the average cost of nursing home care is now $139,200 per person or $278,400 for a married couple.
Contact Gil Haggart for more information.
(ph) 847/699-1400
(email) gilh@meekermagner.com