Long Term Care Insurance Specialist
"I'm too young and it won't happen to me"
The fact is, a long term care situation can happen at any age. A skiing accident, auto accident, or an unfortunate diagnosis can cause even the healthiest of us to suddenly need care. The question is, how will you pay for the care?
We all tend to be optimistic about our health. Ask a man in his fifties about needing care at some point, and nine out of ten will say with certainty that they will never need it. The reality is, he has a 1 in 3 chance, and it will be his spouse or partner who will be most impacted.
Women have a 1 in 2 chance of needing care. Statistically, women live longer and have a higher risk of developing conditions that require assistance with their activities of daily living (ADLs).
Questions to ask yourself:
- If I did suddenly need care, who would I expect to take care of me?
- How would that impact their lives, their finances, and mine?
- If my spouse or partner needed care, would I be able to provide it alone?
As with any insurance, you have to buy it before you need it. I can't tell you how many people have come to me to find out about getting insurance because they've just been diagnosed with something, or for their mother because she's starting to show signs of dementia. To buy long term care insurance, you must health qualify, and the longer you wait, the less likely you are to get it.
Fifty percent of Americans receiving long term care are under age 65.
2000 Agency for Healthcare Research and Quality, US Dept of Health & Human Services
Age18-49 50-59 60-69 70-79 80+ Declined9.5% 14% 23% 45% 66%
Percentage of Applicants Declined Coverage:
Age 18-30 30-39 40-49 50-59 60-69 70-79 80+ Discount 81% 74% 62% 46% 38% 24% 9%
Percentage of Applicants Qualifying for Good Health Discounts:
For Men and Women in their 40's and 50's:
"The One Thing You Need to Know About Long-Term Care Insurance Protection "