- 70% of people at 65 or older will need some form of Long-Term Care (longtermcare.acl.gov).
- Cost varies by state, but here are the national averages (ALTCP.org)…
- Private Room: $100,380 per year
- Semi-Private Room: $88,344 per year
- Home Health Aide: $50,664 per year
- And recall… this is on top of your normal living expenses (house payments, utilities, etc).
- Last but not least, how would a care event affect the family?
So what are YOU doing to help clients prepare?
Please review the asset based long-term care policies to assist your customers. Attached is an example I think you should see…
Clients: Joint policy, both age 65, $100k premium
- $123,445 tax-free death benefit available immediately
- Up to $44,436 in long-term care benefits available for each spouse
- If both spouse on claim, One America can pay out almost $90k in benefits annually
- Unlimited duration of benefits
- Claim Concierge services available to assist insureds and caregivers find the right care for the loved one, handle billing, and give advice/support
Please help clients consider re-positioning some money to protect not only their financial lives but also themselves and their families from the stresses of a long-term care event.
Let me know if I can assist.