As the cost of health care continues to rise, Long Term Care (LTC) coverage becomes an increasingly important component of every American's safety net. Traditional health insurance doesn't cover most LTC services. State and Federal programs only cover people with low incomes and are notorious for the poor quality of care provided.
• The average annual cost of convalescent care is over $69,000.
• In 20 years, the average annual cost is expected to exceed $180,000.
• The average lifetime expense to care for an Alzheimer's patient is $290,000.
• Every minute 49 Americans become disabled.
• At age 32 you are 6.5 times more likely to become disabled than die.
• 75% of disabilities result from illness.
• 70% of Americans will need some Long Term Care after age 65.
• 3 out of 5 people over age 65 will require a minimum of 3 years Long Term Care assistance.
• 40% of people receiving Long Term Care are between age 18 and 64.
• By age 85 we are 5 times more likely to need help with personal care than when we were 65. Additionally, after age 80 women are more likely than men to need help.
• As a member of a Public Pension Plan, Law Enforcement and Fire Service personnel would never qualify for government assistance through Medicaid or Medicare. Your monthly retirement allowance and other assets would need to be extinguished to qualify.
• 350,000 bankruptcies each year are attributed to unexpected medical expenses.
Without LTC coverage, you or your children must cover the high costs of care. LTC coverage provides you with peace of mind and protects your assets.
