With the annual cost of long term care starting between $44,000 and $97,000 (depending of the amount of care needed), it should be no surprise that long term care expenses are a major financial concern for retirees. In fact, according to a recent retirement confidence survey conducted by the Employee Benefit Research Institute, nearly half of all seniors have little or no confidence they have enough money to pay for nursing homes and other long term care.
This lack of confidence turns even more worrisome when you consider most studies project at least 70% of people over the age of 65 will need some type of long term care during their lifetime.
The best way to avoid the crushing financial and emotional stress of being unprepared for long term care is to develop a custom long term care plan that’s anchored by a sound long term care insurance policy.
Long term care insurance is a specially-designed insurance product that helps you cover long-term health services and support.
To develop a long term care plan, it’s best to work with long term care insurance specialists who will:
For additional help, please feel free to contact the experts at Schneider & Shulman Associates. We’re eager to help you develop your long term care plan and offer you retirement piece of mind.