Most Consumers Purchase Long-Term Care Insurance in Their 50s

Decades ago, few people were aware of Long-Term Care Insurance. Today, most people are aware of the product and the consequences of changing health and aging. 

Long-Term Care Insurance pays for the care you need to help with daily activities due to an illness, accident, or the impact of aging. Some people need ongoing semi-skilled or skilled medical services as well. Plus, millions of people suffer from the decline in their memory due to dementia, including Alzheimer's. LTC Insurance pays for the supervisory dementia care these people need. 

Health insurance, which includes Medicare and supplements, won't pay for most of this care, leaving the financial burden on the family. Medicaid is available for some people; however, you must have little or no income and assets to qualify. 

In many cases, unpaid, untrained, and unprepared family members, often daughters or daughters-in-law, become default caregivers. They must find a way to juggle their career and family with the new role of caregiver for mom or dad. 

In fact, over 53 million family caregivers are providing care today - Unpaid Family Caregivers Now Total 53 Million People | LTC News

That leaves Long-Term Care Insurance. Many people have plans and are using their plans to maintain independence.

In 2020 over $11.6 Billion was paid to American families in Long-Term Care Insurance benefits. These benefits help provide care in any setting, including in-home care. LTC Insurance gives your loved ones the time to be family and not caregivers. You will also have access to your choice of quality care in all settings. 

Long-Term Care Insurance is medically underwritten and priced based on the age you obtain coverage, in addition to your health, family history, and the amount of benefits you purchase.

Today, most buyers of Long-Term Care Insurance are in their 50s - Majority of LTC Insurance Buyers are in Their 50s | LTC News 

You might read that premiums for Long-Term Care Insurance are expensive. The fact is they are very affordable if you purchase a plan younger and when you still enjoy good health Are Long-Term Care Insurance Policies Expensive? | LTC News 

Today, there are many options to plan for the costs and burdens that come with getting older and changing health. There are several types of products to choose from, and all of them are custom designed.

Be sure to work with a qualified specialist who works with the top companies. With over 20 years of experience and thousands of clients nationwide, I help families find the best coverage at the best value.

Shop the top companies from one trusted source. Get free and accurate quotes along with professional recommendations - Quote (mccannltc.net)

Family Caregivers Can Face Years of Work.

You might think your family could become your future caregiver decades from now since you might only need a few months of care. The problem is - it could last for years. Affordable Long-Term Care Insurance policy gives the family time to be family. 

The AARP says caregiving plays a significant role for many Americans. More than 65 million people, 29% of the U.S. population, provide care for an older family member or other chronically ill or disabled people.

The value of the services these family caregivers provide for "free" when caring for older adults is estimated to be $375 billion a year. According to the National Alliance for Caregiving and Evercare, that is almost twice as much as is actually spent on in-home and nursing home services combined ($158 billion).

Don't place the responsibility of caregiving on your family. Family caregivers face physical and emotional distress. Paid care is expensive. Planning for the costs and burdens of aging is an essential part of retirement planning.

Read more here.

According to the LTC NEWS Cost of Care Calculator, the costs of paid care services continue to grow every year. Find both the current and future costs of long-term health care where you live by clicking here.

The best time to shop for Long-Term Care Insurance is before retirement, ideally in your 40s or 50s. Get free and accurate quotes from all the major companies by clicking here.

Have You Been Told You Don't Need Long-Term Care Insurance?

Who has your ear? Friends? Family? Financial Advisor? Co-workers? Everyone has an opinion, but often, those opinions are not based on facts or common sense.

In the decades ahead, you will experience changes in your health, body, and mind. Many of these changes will mean you will need help with daily living activities. Sometimes you may suffer memory loss and need to be supervised. 

The people who tell you that you do not need a future long-term health care plan will not become your caregivers. These people will not pay for your care either. The time for you to take charge and prepare for the costs and burdens of longevity is now - ideally before you retire in your 40s or 50s.

Read more by clicking here.

The LTC NEWS Cost of Care Calculator will show you the current and future cost of extended health care where you live - click here.

You can learn more from my website: www.mccannltc.net

Get free and accurate quotes from all the major companies by clicking here.