The cost alone is reason enough. Most people's savings would not withstand 3 or 4 years of long-term care costs. Even if you could afford several years of care, you can make better use of your life savings.
Consider Long-Term Care Insurance to:
To help maintain your freedom of choice.
To remain at home and age in place.
To protect your savings and financial independence.
But, I'm Healthy ...
"No one in my family has had any major illnesses." In 24 hours our lives can change dramatically. Are you prepared should the unexpected happen? When we get older our bones get brittle and aging affects us in different ways. A fall or a high fever can trigger responses in the body that can alter the way we cope with daily living.
No one wants to be forced into a nursing home. After age 65, our hearing and eyesight start to fade and our reflexes aren't what they were in our youth. It doesn't take much to become immobilized, even for a short while. Who will provide the care? And, at what cost? Will the ailment go away or will it linger for many years.
It is true that most of us would like to go quietly in our sleep. Unfortunately, only 30% of us will have this luxury. As uncomfortable as this is to talk about, 70% of people over the age of 65 will not die suddenly. They will need someone to care for them in their home or some other facility.
The cost of long-term care in North Carolina is staggering.
Nursing Home stay averages $140 per day.
Assisted Living is around $90 per day.
Home Care costs about $80 per day.
Care costs are estimated to increase by 65% in the next 10 years.
The greatest threat to middle-income families is the cost of long-term care.
Medicare with a Medicare Supplement only pays for up to 100 days of skilled, rehabilitative nursing home care.
