Long-Term Care Pros & Cons
...the largest financial and emotional risk you and your family will face

Did you know that long-term care (LTC) is the largest financial and emotional risk you and your family will face? People think a long-term care situation only happens to older people -- however, 40 percent of the long-term population is under the age of 65! For almost all Americans, except the very wealthy or poor, long-term care insurance may be a vital part protecting one’s estate, lifestyle, and peace of mind.

Choosing long-term care is an important decision. Planning for long-term care requires you to think about possible future health care needs. It is important to look at all of your choices. You will have more control over decisions and be able to stay independent if you think about LTC before you may need care or before a crisis occurs.

WHY DO YOU NEED LTC?

Someone in your family (you, your spouse, one of your parents, or a child) is almost sure to need extended care someday…and it costs more than you may realize. According to the American Association of Retired Persons web site, the average cost of a nursing home is more than $50,000 a year and climbing, and this amount can vary widely depending on where you live.

If you have assets you want to protect, and the insurance premiums would not jeopardize your lifestyle, you are well-advised to explore the pros and cons of various types of protection.

Are you ready for long-term care costs? Private long-term care insurance can help you prepare your finances for the future.

WHAT IS LONG-TERM CARE INSURANCE?

LTC insurance is a type of health care insurance that covers nursing home, skilled nursing, assisted living facility, Alzheimer ’s disease care, custodial care, or in-home care costs.

HOW DOES LONG-TERM CARE INSURANCE WORK?

Once it has been determined that you qualify for LTC, you may be able to receive a daily benefit of $100-$500 maximum for your expenses, depending upon the type of coverage you selected.

* Long Term Care insurance contains benefits, exclusions, limitations, eligibility requirements and specific terms and provisions under which the coverage may be continued in force or discontinued. Policies MAY NOT BE AVAILABLE IN YOUR STATE or variations may not apply. For more information about cost, coverage, restrictions, you should contact an agent licensed to do business in your state of residence.

CONSIDER THESE SOBERING FACTS:

• 12 million people are currently receiving long-term care and growing.
• 82% being cared for at home or in Assisted Living. Only 18% in nursing homes.(1)
• 39% of people needing long-term care are working age adults, ages 18-64.(2)
• Average stays(3)
  – Nursing Home = 2.6 years
  – Home Health Care = 4.5 years
  – Assisted Living = 18 months
  – Life span of Alzheimer’s patient = 4.9 yrs on average – 5.7 for women, 4.2 for men

To see if Long-Term Care Insurance is right for you contact us. We can provide you with a free 1 hour consultation and a long term care quote comparison.

Robert Kerman Financial Services, LLC.
Phone: 914-232-4589
Email Address: robert@robertkerman.com
Planning to Meet Your Financial Needs

References: (1) O’Shaughnessy, Carol, Congressional Research Service, testimony to Senate Aging Committee, June 28, 2001 (2) O’Shaughnessy, Carol, Congressional Research Service, testimony to Senate Aging Committee, June 28, 2001 (3) MetLife 2004 Market Survey of Nursing Home and Home Care Costs as published on Consumer Affairs.com 10/4/2004