The Need for Long Term Care

Census projections are by the year 2025, 20% of the population will be over the age of 65. 60% of those age 65 and older will require long term care during their lifetime. Seven out of ten couples can expect at least one partner to require long term care after age 65.

In the past, parents took care of children and children took care of parents when they became elderly. With changing family structure this is seldom a feasible solution in todays world. family care givers often, lack the medical expertise needed. Have other demands on their time and parents don't want to put children under the physical and emotional demands of custodial care. The emotional strain placed on loved ones often out weighs the financial burden.

You should consider long term care insurance if:

  • You have assets in excess of $75,000.
  • You have an annual retirement income of at least $30,000 for a couple and $25,000 for an individual.
  • You are able to make the premium payments without having to make life-style changes.
  • You can absorb possible premium increases without financial difficulty.


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