Long Term Care Insurance

Long term care solves the financial problems associated with failing health. With long term care insurance in place, one thing is certain: should you experience a debilitating health care issue in retirement, which is likely, you will not need to rely on your children and grandchildren for financial support. The money you have put together for retirement, inheritance, or bequests will stay together. Having a plan in place is the difference between financial independence or financial dependence.

Also consider that while we usually associate Long-Term Care solely as a need of the elderly nearly 40% of those currently receiving long-term care are between the ages of 18 and 64. Medicare does not cover long-term care services and paying for care on your own is expensive. On average, a year in an Oklahoma nursing home costs from $47,000. up to $56,600. Expenses for care in assisted living average over $26,500. Average hourly rates for care received at home in Oklahoma range from $19/hour for a state certified home health aide to $30-$55/hour for a Medicare certified home health aide*. As you can see the cost associated to purchasing Long-Term Care Insurance is relatively inexpensive compared to the benefit provided.

I would be very pleased to provide a Long-Term Care Insurance quote for your review; and if you choose, to discuss with you the benefits of developing a personalized plan that will fit your future needs.

* "Cost of Care Survey." Genworth. 2009.