Risk Factors
Consider the risk factors without LTCi under the age of 65.
TRUE OR FALSE
Long-Term Care Insurance is something that only older people should consider.
The answer is unequivocally FALSE. Over 50% of people receiving care today are under the age 65.
Why You Should Care When You’re Young
Long-Term Care Insurance is far less expensive at younger ages, and much easier to qualify for. 40% of 60-year-olds can no longer purchase this due to health issues.
Solution: Add to Your Risk Management Plan
With many working-age adults requiring long-term care services, it is easy to see that Long-Term Care Insurance is a product that everyone, regardless of age, needs to carefully consider as an addition to his or her risk management planning.
Long-term care services are only covered by Long-Term Care Insurance. It seems simple enough, but it’s true – and it bears repeating…long-term care services are only covered by Long-Term Care Insurance.
Some people believe their Medicare Insurance provides coverage if long-term care services are needed. Medicare is health insurance and will cover a short recovery stay in a nursing home only after 3 days in the hospital, and only while you are making progress that can be documented every day.
Medicare will never pay for an assisted living facility.
Things That Can Make it Difficult or Impossible to Qualify for LTC Insurance
Aneurysm, anxiety, arthritis, asthma, atrial fibrillation, cancers, stroke, TIA, CHF, COPD, diabetes, emphysema, family history, fractures, kidney disease, and we are not yet halfway though the alphabet. This is only a very abbreviated list.
Ready to find out more?
Let us help you set up an important piece to your risk management plan!
