Confused about Long Term Care Insurance?

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I am not surprised when I hear people say that Long Term Care Insurance is so confusing that they do nothing.

One of the problems is that too many agents make it confusing.  It is very simple.  Ask yourself “How much of my retirement assets do I want to protect form long term care expenses?”

We all buy homeowner’s insurance to protect our home from a fire.  Did you know the chance of a house fire is 1 in 300?  We all buy car insurance to protect us if we have an accident.  Did you know the chance of you having an auto accident is 1 in 30?

How many of us protect our retirement assets from long term care expenses?  Did you know the chance that you will need Long Term Care is 4 in 10! Yet most of us ignore the subject.

According to Genworth’s Compare the Cost Report, the state median cost of services in Pennsylvania for 2012 were:

  • Home maker services $44,616.
  • Home Health Aide $45,760.
  • Adult Day Care $14,300
  • Assisted Living Facility ( private, one bedroom) $39,015
  • Nursing home (semi private room) $91,652

For most of us the question we should be asking is “How am I going to pay for long term care expenses when I need them?”

There are many new options today.  Check out our website for more information on options available to you.

You should also check out our article “Can you be forced to pay Mom and Dad’s Nursing Home Bill?”

Check out our website for more valuable information on Long Term Care Insurance.  Then, give us a call at 215-885-2200 or email us at info@spencerinsurance.com for a review.  We will be glad to simplify Long Term Care Insurance.

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