Long Term Care


What is Long Term Care Insurance?

Long term care is the type of care received, either at home or in a facility, when someone needs assistance with activities of daily living (bathing, dressing, toileting, transferring, continence and eating) or suffers severe cognitive impairment (such as Alzheimer’s disease).

The Population is Aging

  • · In 1997 there were 34 million people or 12.8% of the population over the age 65.
  • · By 2030, there will be 70 million people over the ago of 65 and 19 million people over the age of 85.
  • · The fastest growing segment of the U.S. population is the elderly over the age of 65.
  • · Medical technology is extending life but not always to a fully functional level.
  • · Approximately 30% (9.9 million) of all non-institutionalized older persons lived alone in 1995. They were comprised of 42% of older women and 17% of older men.
  • · Over 7 million elderly people have some form of disability for which they require assistance.
  • · Nearly two-thirds of disabled elderly rely exclusively on their families and other unpaid sources for their care.
  • · Four out of every ten older people will stay in a nursing home at least once, and nearly 1 on 10 will stay for 5 or more years.
  • · 7.3 million Americans needed long term line xanax care in 1994. In the year 2000, the number increased to 9 million and will skyrocket to as many as 24 million by 2050.

Benefits of Long Term Care

Dignity – The insured is not dependent upon family members, (if they chose) and other loved ones for care.

Dignity – The insured is able to choose the long term care services and providers.

Dignity – The insured is able to protect their standard of living and their family’s financial security.

Dignity – The insured is able to maintain their assets and their estate.

Dignity – The insured is not dependent upon the government for care.

Who Needs Long Term Care?

    • · Persons planning for immediate retirement
    • · Persons over the age of 50
    • · Those persons of all ages who wish to preserve their assets.
    • · People who do not want to be a burden on their family
    • · People who are currently care givers to others
    • · People who do not have children
    • · People who have seen the struggles of others providing care

 

Moran Insurance . and their agents do not provide legal or tax advice. For specific legal or tax advice based on your situation, please contact your attorney of tax advisor.

For information regarding Long Term Care or other plans that may not be listed, email us at info@moraninsurance.com