Long Term Care
Sad but true: Life is not forever
We try to ignore it, but the sad fact is, we age. Our bodies betray us. We become frail.
Yet a startlingly large number of people do not have Long Term Care insurance. That’s called “Denial.”
The shock often comes in your 60’s or 70’s, when you realize the time for Long Term Care is rapidly approaching, and you discover how expensive it’s become.
Let’s talk through options now—coverage types, benefit periods, elimination periods, inflation riders, and how LTC integrates with your retirement income plan.
Facing the Reality of Aging
It’s natural to put off thinking about aging and the challenges it can bring. But our health changes over time, and many of us will eventually need assistance with daily living. Planning early helps ensure that when the time comes, you’re prepared—financially, emotionally, and with greater peace of mind.
Why Plan Sooner?
- Lower cost & easier approval: Health underwriting is generally more favorable at younger ages.
- More choices: Traditional LTC, hybrid life/LTC, and annuities with LTC riders.
- Asset & income protection: Help preserve savings and provide flexibility for loved ones.
- Care on your terms: Plan for care at home, assisted living, or nursing care.
Common Misconceptions
- “I won’t need it.” A significant share of retirees need some level of support with daily activities.
- “Medicare will pay.” Medicare is limited for long-term custodial care; LTC planning fills the gap.
- “I’ll self-insure.” Feasible for some, but may strain portfolios and limit choices during market downturns.
Where Care Happens
- In-home care & care coordination
- Assisted living & memory care
- Skilled nursing facilities (as needed)
Ways to Prepare
- Traditional Long-Term Care insurance
- Hybrid life insurance with LTC benefits
- Annuities with LTC riders
- Budgeting & earmarked savings
Your First Steps
Note: Product features, underwriting, and availability vary by state and insurer. This block is general education, not financial or tax advice.
Get Coverage While You’re Young
The earlier you purchase Long-Term Care insurance, the more affordable it is. Premiums are significantly lower at younger ages, and the cost can be spread out over more years, making it easier to manage. Very few people who purchase LTC coverage ever let it lapse — because they understand its long-term value.
Why Long-Term Care Insurance Matters
The costs of long-term care can rapidly deplete a family’s savings. Too often, people must sell assets or rely on children — creating financial strain and emotional stress. LTC insurance helps protect your finances, relationships, and peace of mind.
Earlier vs. Later: A Simple Example
- Wait until age 75: Premiums and out-of-pocket costs are often substantially higher due to age and health risks.
- Buy at 55, 50, or younger: Premiums are lower, coverage is easier to secure, and later-life costs are minimized.
Planning early not only protects your future care options but also helps you lock in the best possible value.
In-Home Care (Typical Costs)
- National average ~$33/hour
- California typical range: $32–$40/hour
- 24-hour care: $20,000–$27,000/month (≈ $240,000+/year)
- $1M in benefits may cover roughly 3–4 years of full-time in-home care
Assisted Living (Typical Costs)
- National median: ~$5,350/month (≈ $178/day)
- California average: $5,250–$6,250/month (≈ $63k–$75k/year)
- $500k in benefits could provide roughly 7–8 years of coverage (varies by location & care level)
Why It Matters
Long-term care is not one-size-fits-all. Needs can change suddenly — from part-time help at home to full-time care or assisted living. Having the right coverage in place ensures flexibility and peace of mind for you and your family.
Note: Costs and availability vary by state, carrier, and care setting, and they change over time. This block is general education, not financial, tax, or legal advice.
Have any Question? Ask us anything, we’d love to answer!
Medicare Made Easy, Medicare Made Simple.
If you feel like you have been spinning your wheels wondering how to make the best decision when it comes to your Medicare plan, you are in the right place. The good news is, you don’t have to do this alone. We are in the business of helping people understand Medicare, in simple, plain terms that everyone can understand.
We believe it’s important that you first understand Medicare itself. You can’t understand your Medicare options until you first understand basic Medicare benefits. Fortunately, we’ve mastered how to make it simple.
Jupiter, Florida
601 Heritage Dr, Suite 444
Jupiter, FL 33458
Office: 610-707-9170
Cell: 561-329-2650
Collegeville, Pennsylvania
409 2nd Ave, Suite 304
Collegeville, PA 19426
Office: 610-707-9170
Cell: 561-329-2650
Warrington, Pennsylvania
1243 Easton Road
Warrington, PA 18976
Office: 610-707-9170
Cell: 561-329-2650