Long-Term Care

Insurance Long-Term Care
Retired Couple

What's missing from your retirement plan?

About Long-Term Care

Long-term care, as you may already know is expensive. For example, in Massachusetts, the average annual cost for nursing home care is over $126,000. In Rhode Island, the cost is lower, but it's still in excess of $90,000 per year.

The risk is compelling - according to a study by the U.S. Department of Health and Human Services, 3 in 4 Americans over age 65 will need some form of long-term care services. And medical insurance and Medicare do not cover these expenses.

Learn More About Long-Term Care today!

In Connecticut, the average annual cost for nursing home care is over $140,000.

The risk is compelling - according to a study by the U.S. Department of Health and Human Services, 3 in 4 Americans over age 65 will need some type of long-term care services.

 

More Savings

Like most other forms of health insurance, LTCi offers tax deductions to some individuals, all self-employed individuals, and all corporations. Learning about the AAA LTCi program is easy – simply call 800.269.2622 and arrange to meet a Long-Term Care Insurance Specialist ONLINE via your home computer and telephone. You can also view a short presentation at www.armltci.com/aaacmc.

 

  • 2011 Market Survey of Long-Term Care Costs by the MetLife Mature Market Institute
  • Home care costs are based on a Home Health Aide at $15-$40/hr x 5 hours a day x 5 days a week x 52 weeks per year.
  • www.longtermcare.gov
  • Family Caregiver Alliance; www.caregiver.org
  • 2011 The Sourcebook for LTCi

As life expectancy rises, the major concern facing Americans today isn't dying too soon, but living too long! Research shows that five out of ten individuals over the age of 65 will requires some form of Long Term Care in their lifetime. According to the Health Insurance Association of America, the average cost of a nursing home can reach $50,000 a year nationwide. In New Jersey it can easily reach $70,000! The financial and emotional costs of such care can be devastating.

 

What is Long-Term Care Insurance?

It is an insurance policy designed to cover a wide range of Long-Term Care services. If you are unable to care for yourself because of a prolonged illness or disability, Long-Term Care Insurance may pay for the kind of services you need. Such services may include help with daily activities such as dressing, walking, eating, bathing, toileting along with maintaining continence in your home, adult day care, care in a nursing home or care in an assisted living facility.

 

Who needs Long-Term Care Insurance?

Whether or not you should buy a Long-Term Care Insurance policy depends on your age, health status, overall retirement goals, income and assets. For example, if your only source of income is a Social Security benefit and you have very little assets, you probably shouldn't buy Long-Term Care Insurance.

 

How much does Long-Term Care Insurance Policies Cost?

A policy can be expensive. Premiums vary based on your age and health and the level of coverage, benefits and options you select. The older you are the higher the premium. If you buy at a younger age, your premiums will be lower, but you will pay premiums for a longer period of time. Recent studies have found the average age of purchases was age 65, but the current trend is for younger people to buy Long-Term Care Insurance to lock-in a better rate on the policy.

 

How Do I Get More Information?

Many find that attending AAA's free Long-Term Care seminar provides them with the answers they need. This 1 hour and 30 minute seminar is not a "High Pressed Sales" presentation, but an informative session to address this topic along with the opportunity to ask questions.

 

Call to register: 1-888-390-4547 ext. 4015

 

 

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Long-Term Care products are not currently available in New York. 
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