Long Term Care


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Long-Term Care Insurance

Long-term care insurance is an important area of concern for the maturing physician and spouse.  The high cost of long-term care and the extended life expectancy make this an important element of financial and estate planning.

 

Do you know?  The chances of having long-term care needs are:

  • 70% of us will need some type of care
  • 7 years average care for a female
  • 2 years average care for a male
  • 20% will need care for more than 5 years

 

Do you know?  The average costs of long-term care in Pennsylvania are:

Homemaker Services                     hourly rate          $      21*                                =             $ 51,480

 

Home Health Aide Services          hourly rate          $      21*                                =             $ 52,624

 

Nursing Home semi-private         up to                     $     281* a day                  =             $105,850

 

Nursing Home private                    up to                     $     324* a day                  =             $117,045

 

*Figures taken from Genworth Cost of Care

 

Unfortunately the same reasons for our needing long-term care have seriously affected the market.  Premiums have gone up and some have increased as much as 90%. Any new coverage is much higher and more restrictive.

 

Fortunately the insurance industry has responded to this issue with a hybrid Life and Long-Term Care plan that is a good option for many.  Please go to Life & LTC Combo for more information on this option.

 

If you are thinking about this type of insurance we urge you to contact us.

 

 

Easy to Apply

  • Contact us to help design the correct plan for you.
  • We will assist you in completing the application.
  • Typically, no exam is required.

Please complete the form below and we will contact you with additional information.

Please complete the form below and we will contact you with additional information.

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