Carmel, Indiana Long Term Care Insurance

Today, the costs of elder care is continuing to rise. Elder care consist of nursing home, assisted living and home care.  70 % of senior citizens can expect to need to access one of these forms of eldercare in their lifetime. Also their costs vary by level of care as well as geographically. Generally you can expect to pay approximately $100k per year for nursing home, $55 per year for assisted living and $25 per hour for home care.  The question is how much will these services cost in the future.

Do I need long-term care insurance?

Typically, Medicare and health insurances does not pay for these services when due to not being unable to perform activities of daily living.  Generally Medicaid is a program that pays for the medical and long-term care expenses for poor people, so if you are in that situation, you may not need long-term care insurance because your state's program may pay for your long-term care expenses.

It should also be noted that as people are now living longer, they are also spending more time in life needing long term custodial care services.

Long term care insurance has almost disappeared form the insurance market as it has become more expensive.  In today as market, hybrid life insurance polices and specially enhances annuities provide some financial benefits that can help defray the cost of long term care.  So What's The Best Age To Apply For Life Insurance That Pays For Long Term Care?  The following chart displays typical ages when individuals apply for these types of policies..

No matter your age we have plans for you.  You will have more options when you are younger and it will allow you to build up funding over time at a lower cost.  Later in life, there are fewer options, more costly and generally require single premium deposits.

So please call to discuss and identify options that could be right for you.