Alzheimer’s Disease is the 6th leading cause of death in America.
By age 65, one in eight has it. By age 75 it’s down to one in four, and by 85 fully half of us already have it. If you live long enough, its almost inevitable. Alzheimer’s is not preventable, and not curable. At first you will know that you have it, and are trapped in its progression.
At some point you will need help. Sometimes the children can retire early and move in to care for us 24-7. Most of us do not have that luxury – we will have to pay for home care or assisted living facility care. Most LTC, even for dementia, is not done in nursing homes anymore. Costs for dementia care are the highest range of assisted living billings, often up to $6500 per month.
How long can your budget last with this kind of an extra bill each month? Many other physical ailments can bring about a need for care too. Its all expensive, like a car accident with car insurance. Surely you insure that risk, so why not insure for LTC costs since 70% of us will need some (per HHS)?
I have seen some very inappropriate proposals given to consumers on Long-Term Care insurance. For most agents or financial planners this topic is a once in a while, also have product. They typically do not research all the options, and tend to suggest more insurance than will be needed, making the premiums far too high.
Before you think it is out of reach for your budget, contact a professional who can help you decide how much is appropriate for your situation, taking into account the lifestyle changes that occur when care is needed. We constantly hear “Oh, that is much better than we anticipated” once we meet with clients.
Consult with the experts. We have 23 years experience in the financing of Long-Term Care. We have solutions for anyone, regardless of finances or health. The best options are for those who are still healthy, but we can help everyone in some way. Give us a call at (920) 884-3030 in Green Bay or from anywhere at (800) 219-9203