The Top Ten Reasons Why People Need Long Term Care Insurance

10. The authorities isn't going to pay for long-term care at home, in a nursing home, or in an assisted life center. Medicare pays 100% of long-term care for 20 years and all but $95.00 per twenty-four hours for the adjacent 80 days--after that nothing. However Medicare only pays for skilled care and most long term care is not skilled care.

9. The national average cost for nursing homes is approximately $105.00 per day. Assisted life ranges anywhere from $50 - $90 per day. If you dwell on the Eastern Seaside you can easily pass $50,000 to $80,000 for a year's stay in a nursing home. These costs are perfectly capable of wiping out a lifetime of savings-not to advert the emotional consequence long-term care have on a family.

8. A Harvard University University survey showed that 69% of single people and 34% of married couples would wash up their assets after 13 hebdomads in a nursing home. 13 Weeks = 91 days!.

7. At age 65, a adult female have a 1 out of two opportunity of disbursement some clip in a nursing home. A adult male have a 1 out of three chance. In the lawsuit of men, mortality catches up with morbidity.

6. Medicaid kicks in lone after a person's assets and self-respect are gone. In many states the eligibility threshold for single people is $1,500 in assets. After all Medicaid is WELFARE.

5. Children would wish to help, but children often have got children of their own. They certainly can't discontinue their occupations to care for their parents.

4. Health rarely betters with age.

3. People can't purchase long-term care coverage at crisis clip or when they are ready to utilize it.

2. American's have got access to the best wellness care in the world, if they can pay for it.

1. Most People desire to take where they travel instead of having to travel where they are taken, and if independency is of import to them, they will need to have got either a large estate or adequate insurance.

Information quoted directly from:

* Type A Shopper's Usher to Long-Term Care Insurance , National Association of Insurance Commissioners.

* Long Term Care Companion Consumer Guide, Transamerica Occidental Life.