Long-Term Care Insurance helps pay for ongoing care when a health condition or aging makes daily activities difficult. It offers financial support, giving you and your family more options for ongoing care.
Why would I need Long-Term Care Insurance?
There is a 70% chance that people over 65 will need some form of long-term care.
Long-Term Care Insurance helps provide financial protection if you need assistance with everyday activities due to aging, illness, injury, or a cognitive condition. It can help cover the cost of care at home, in an assisted living facility, or in a nursing home, helping preserve your savings and maintain your financial independence.
Doesn't health insurance or Medicare cover long-term care?
Health insurance and Medicare may cover short-term skilled care or rehabilitation, but they generally do not cover extended care, such as ongoing assistance with bathing, dressing, eating, or other daily activities. Long-Term Care Insurance is designed specifically for these needs.
How much does long-term care typically cost?
While long-term care costs vary by facility and location, they can be considerable. The average cost of long-term care in California can range from approximately $84,000 per year for assisted living to more than $180,000 per year for a private nursing home room. Without a plan in place, these expenses can significantly impact retirement savings and the financial legacy you've worked hard to build.
Is Long-Term Care Insurance Expensive?
The cost depends on factors such as age, health, and coverage amount. Many people find that planning ahead provides more affordable options than waiting until care needs become more urgent. The cost of coverage should be weighed against the potential cost of care and its impact on retirement savings. The biggest benefit of Long-Term Care Insurance is greater control over where you receive care, who provides it, and how your care is funded.
What kinds of discounts are available for association members?
As an association member, you often expect a 5% premium discount on Long-Term Care Insurance plans. In many cases, this discount can also be applied to a spouse applying for Long-Term Care. We're proud to offer this exclusive benefit as part of our commitment to helping members protect their financial future while saving on insurance costs.
How can I learn more about Long-Term Care Insurance?
We would love to have a conversation about your retirement goals, family situation, and concerns about future care expenses.
We’ll help you understand your Long-Term Care Insurance options, explain the types of coverage, and identify a solution that fits your needs and budget. We want to make the process simple for you and help create a plan that protects both your independence and your financial future. To get started, request a quote, and we'll reach out to discuss your options.
