Keiber Retirement Solutions, Inc.

Why Do I Need Long-Term Care?

You should consider buying long term care insurance if:

  • You have assets and income you want to protect

  • You want to avoid burdening your family with extensive caregiving responsibilities

  • You don't want to depend on government programs for care

  • You want to be able to choose where you receive care

  • You want to receive high quality care

Even though you plan to remain healthy, active and independent, there's a good chance, at some point, you'll need help. Consider the following statistics:

  • Life Expectancy after age 65 has now increased to 17.9 years. The longer people live the greater the chances they will need assistance due to chronic conditions. (1)

  • About 12.8 million American of all ages requires long term care, but only 2.4 million live in nursing homes. (1)

  • About 44% of people reaching age 65 are expected to enter a nursing home at least once in their lifetime. (1) Of those who do enter a nursing home about 53% will stay for one year or more. (1)

Because women generally outlive men, they are more at risk!

  • Yes, the issue of Long Term Care should be especially important to women because they traditionally provide (Unpaid caregiving issues) and receive the majority of Long Term Care services.

  • After Age 65, women have a 50% greater chance than men of entering a nursing home (1)

  • 75% of nursing home residents 65 years and older are female, and 2/3 of home health care recipients are female. (2)

You Should Not Buy Long Term Care If:

  • You can't afford the premiums.

  • You have limited assets

  • Your only source of income is a Social Security benefit or Supplemental Security Income (SSI)

  • You often have trouble paying for utilities, food, medicine, or other important needs

  • You are on Medicaid

(1) "A Guide to Long Term Care Insurance", Health Insurance Association of America , 2006.

(2) "Long Term Care Insurance: Better Information Critical to Prospective Purchasers", U.S. General Accounting Office, Sept 13, 2000.

Disclaimer: This site is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security which may be referenced herein. These are the views of Associates of Clifton Parks, Long-Term Care specialists, and not necessarily those of the named representative, Broker-Dealer or Investment Advisor, and should not be construed as investment advice.

Insurance products are offered through insurance companies with whom KRS associates have sales arrangements. Not all products/features may be available in your state. Check with your Accountant or Tax professional on the tax issues associated with Long-Term Care insurance.

Securities and advisory services are offered through Level Four Financial, LLC, Member FINRA/SIPC. Keiber Retirement Solutions, Inc. is not owned or operated by Level Four Financial, LLC. Nor is Associates of Clifton Parks affiliated with Level Four Financial, LLC.

Level Four Financial, LLC advisors may only conduct business with residents of states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state.