7 out of 10 Americans over the age of 65 will need long term care at some point.¹ And the US National Median cost of a private room in a nursing home was $8,821 in 2020.² That’s $92,376 a year!
When you factor in the cost of doctor visits, medical procedures, prescriptions, etc., that number is going to keep climbing.
If your need for long-term care comes after you retire, that financial burden could fall onto your loved ones.
The right life insurance coverage has the potential to keep you living well and independently. Long-term care as a part of a tailored life insurance strategy is a great way to protect your retirement funds – and keep your loved ones’ finances protected, too.
I can help. Contact me today, and together we can explore your options for long-term care – and do what we can to help keep those Golden Years golden.
¹ “Life Insurance: Long-Term Care,” Nationwide, https://www.nationwide.com/personal/insurance/life/long-term-care/
² “Cost of Care Survey,” Genworth, 2020, https://www.genworth.com/aging-and-you/finances/cost-of-care.html