|
|
|
Site search Web search
|
Long Term Care
|
| Paying the premiums will be a burden. | |
| If the only source of income is a minimum Social Security benefit or Supplemental Security Income (SSI). | |
| If paying utilities, food or medicine stretches a budget. | |
| If you have Alzheimer's or Parkinson's disease. No company will want to sell you a policy since they will face losses. |
Although the need for long-term care can arise gradually as a person ages and needs more and more assistance with activities of daily living, for most a stroke or a heart attack will be the precipitating need. Those with acute illnesses may need nursing-home care for a matter of months, while others may need care for years.
Recent studies based on nursing home admissions indicate that 40% of all persons age 65 and over will enter a nursing home in the future.
|
"If you're 65 or older, you have roughly 10 times the chance of going into a nursing home as you do having your house burn down. You wouldn't go without homeowners's insurance, so why not insure against the greater risk with long-term care insurance?" - Chicago Sun-Times, February 21, 1999 - |
A study conducted in 1987 showed that Medicare paid for less than 2% of the costs and private insurance paid for even less. Medicaid paid for 42% of the expenses, and the patient or his or her family paid over one-half of these costs.

Securities offered through Sigma Financial Corporation. A registered broker/dealer. Member FINRA & SIPC.Send mail to
Webmaster with questions or comments about this web site.
|