Blended Life Products that offer Long Term Care (LTC)
by Daniel Tuchmann
There are now new policies out there instead of traditional LTC (Long-term care policies), you can choose a Hybrid Life Insurance/Long-term Care Policy that provides the LTC care protection you need, if you need it while still offering Tax-Free death benefits to you loved ones for when you are no longer there to care for them. This protects both you, giving you Living benefits and gives you a strong financial legacy all at the same time. Follow up with us at Thomas & Associates to learn more about these new Hybrid policies today.
Some Simple Facts about Long Term Care (LTC)
- 70% of people turning age 65 can expect to use some form of long-term care during their lives
- 20% of those, age 65 and older, will need care for more than 5 years
- $83,585/year for a Medicare-certified nursing home private room
- $21.73/hour for Home Health Aides provided by a certified Home Healthcare Agency
1 U.S. Department of Health and Human Services long-term care website http://longtermcare.gov/costs-how-to-pay/costs-of-care/, accessed Febuary 6, 2017
2 Univita, “2013 Cost of Care Survey,” https://www.lfg.com/DOCS/pdf/rna/2013CostofCareSurvey.pdf. Costs are national averages.