Long Term Care Insurance

The need for some form of Long-Term Care can be an uncomfortable but necessary conversation. According to various studies between 50% and 70% of people who are 65 years old today will need some form of long-term care later in life. Couple this with the rapidly rising cost of health care and assisted living care and it's easy to see why medical costs and health care represent the single largest threat to outliving your assets.

Consider not only the financial cost but also the mental and physical costs. Most people know someone who is dealing with or has dealt with Alzheimer's or Dementia. That puts a tremendous strain on friends and relatives who care for an individual who doesn't have adequate insurance coverage.

The average cost of in-home care is $23/hour nationally. The average cost of nursing home care is $7,450/month or $89,400/year. If an individual intends to pay for that with savings remember that could mean as much as $180,000 of his/her hard-earned money before income taxes.

Traditional Long-Term Care insurance coverage offers a use-it-or-lose-it proposition on top of being costly. At Headley Insurance Agency we offer smart solutions to help with the costs of Long-Term Care.

The insurance policies can provide:

  • - Better yield than a typical rainy day fund or bank account
  • - Liquidity and even return of premium
  • - Better leverage so your premium dollar buys a multiple of Long-Term Care coverage benefits
  • - Tax free death benefit
  • - Joint policies that cover both spouses (often a more attractive premium)

Contact us today for a Long-Term Care solution that best fits your needs.