As you get older, there’s a good chance you’ll require some type of long term care services. Long term care provides assistance for you when you can no longer take care of yourself due to an accident, disability, or chronic illness. Long term care services are not typically covered by health insurance or Medicare and can include:
Nursing home or skilled nursing facility care
Assisted living facility care
Alzheimer’s unit care
Will you be able to afford long term care?
Long term care services are expensive:
In 2017, the average cost to stay in a semi-private room in a nursing home for one year was $7,148 a month.* (Genworth)
How can long term care insurance help?
Long term care insurance provides many benefits:
Helps pay for the high cost of this care
Protects your retirement savings
Helps you stay at home for as long as possible
Helps you avoid becoming a financial burden to your children