New Forms of Life Insurance covering Long Term Care

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)

The risks1

  • 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

The costs2

  • $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, accessed Febuary 6, 2017

2 Univita, “2013 Cost of Care Survey,” Costs are national averages.