Long Term Care Insurance
(Asset-based LTC approach)
Estimated cost of LTC in 20 yrs
based on averages:
- $166,300 per year @
2.2 yrs for men = $365,860
- $166,300 per year @
3.7 yrs for women = $615,310
- $166,300 per year @ 8
yrs for Alzheimer's = $1,330,400
According to The National
Long-Term Care Clearinghouse:
About 70% of individuals
over age 65 will require at least some type of
long-term care service during their lifetime.
Over 40% will need care
in a nursing home for some period of time. Women
need care for longer (on avg. 3.7 years) than do men (on
avg. 2.2 years).
Department of Health and Human Services,
long term care, how would it affect your
The four important
considerations when a loved one needs care:
- Spouses - Many
times the stress of caring for a chronically ill loved
can impact the health of the caregiver as well.
- Children - When
the spouse isn't involved, other loved ones carry the
burden. Often the eldest daughter quits job,
moves in or moves parent in her home, gives up career
- as any child would probably feel obligated to do.
- Family dynamics
- When informal care is needed, it may not be shared
equally amongst the adult children. Often one
sibling bears the burden and it can affect the
relationship with siblings.
- Unnecessary losses
- You can never avoid all losses; however, the
unnecessary spiritual, emotional, financial, and
familial losses could be mitigated when one prepares.
"How will you pay for it?"
chances of needing LTC during your lifetime are either
0% or 100%
Yourself, Your Family and Your Assets!"
Pension Protection Act of 2006 not only
provides tax clarification of long term care insurance combination policies, but also the ability to
pay long term care insurance premiums in a tax-advantaged way using life
insurance or annuity cash values.
Asset-based long-term care policies work by leveraging existing assets to help pay for long-term care expenses only if they are needed. If long-term expenses are not incurred, the assets pass on to your heirs. And yes, you are allowed to change your mind, you may "CASH-OUT" at any time!
EXAMPLE: $125k cash value life
insurance = $252k LTC benefit or $252k death
Quit - Live - Die
Want to learn more?
Click here and complete the confidential survey,
or call 866-340-5697 where an experienced LTCi expert is
ready to assist.
hear and I forget.
see and I remember.
and I understand.
To contact a LTC insurance agent in
Naperville, Illinois call 866-340-5697