| Now you can be. First Southeast
Insurance can help you find a plan of insurance protection designed
to help safeguard the things you've worked hard for all your life,
should you ever require costly long-term care services.
What is Long-Term
Care?
Long-term care is the kind of
help you need if you are unable to care for yourself because of
a lengthy illness or disability. It refers to care provided to you
at home, in your community, in a nursing home or other residential
setting. It can range from help with routine daily activities like
eating or dressing to around-the-clock care by skilled medical personnel.
Have you overlooked
one of your greatest risks?
Most of us plan carefully for
retirement but completely overlook one of the greatest risks we
face as we get older - the need for continued care at home or the
possibility of a prolonged stay in a nursing home, The fact is,
seven out of ten people over the age of 65 will need some type of
long-term care, including home care and community care, at some
time in their lives. Furthermore, four out of ten people will spend
time in a nursing home. Faced with these realities, we must plan
for our continued financial security.
How costly
are Long-Term Care services?
Today, the national average
cost of nursing home care is $45,000 a year. And home care averages
$14,000 to $16,000 a year. At 5% annual inflation, these costs will
double in just 20 years. One lengthy period of long-term care could
wipe out everything you've worked a lifetime to build.
- Where will the money
come from?
Essentially, there are three basic options:
- Use your own resources. This
option is available to those who have the income and assets to
pay for long-term care without seriously affecting their financial
well-being or independence.
- Qualify for government assistance.
If you meet federal and/or state poverty levels for both income
and assets, the government may pay your long-term care bills.
However, choices for the care you receive may be limited.
- Be insured. Long-Term Care
Insurance can help you protect your assets and your independence
in the event you should face the overwhelming expense of care
at some point in the future.
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