Cornerstone Insurance Agency Serving Georgia Families since 1986
For A Quote Call Us At 770-413-0807
The Key To Buying the Right Long Term Care Insurance At The Right Price
Long Term Care provides individuals with a secure way to help: Protect their savings and assets
Protect their family and friends from the burden of care giving
Protect their ability to choose where care is received
Cost of Care Overview
Nearly two-thirds of people over age 65 will need long term care at home or through adult day health care, or care in an assisted living facility or nursing home. And while most people think of long term care as impacting only those in senior years, 40 percent of people currently receiving long term care services are ages 18 to 64.*
Not buying long-term-care insurance, however, can be one of the most-expensive mistakes you will ever make.
Medicare pays medical expenses. It almost never pays for custodial care, the kind of day-to-day care people typically need as they get older.
And Medicaid is welfare. You probably don't depend on welfare for your needs now, for many of the same reasons you wouldn't want to depend on it later. You would have to be impoverished or make yourself that way, though the latter is more difficult now because of changes in the law. And you wouldn't have much choice in who provided your care or where. If you have kids, you may assume they will take care of you. They may be fine with that (it's best to check, though). But what happens if your kids are raising their own children and working long hours when you need care? Your daughter may want you to move in with her, but does your son-in-law? And what happens if you need more care than your kids can give 24 hours a day?
You could allocate savings to pay for your long-term care, and if you have substantial wealth, that may work for you. Families with more-limited savings may go through their money in two to three years. At $5,000 a month or more, long-term-care costs can quickly deplete your savings.
Long-term care isn't always just for a year or two at the end of a life. Someone with Alzheimer's disease, for example, could need care for 10 years or more. A person diagnosed with multiple sclerosis in his 50s could live for decades, and with good long-term care, he stands a better chance of staying independent and enjoying those years.
To learn more about long term care and how it can work for you and your family contact us.
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To arrange for your Free, No-Risk and No-Obligation insurance comparison you can call our office at 770-413-0807 or just complete the quote request form to your right and we will get in touch with you