LONG TERM CARE HEALTH INSURANCE RISK:
About 75% of all single people and 50% of all couples spend their entire savings and become destitute within one year of entering a nursing home. This is a long term care health insurance fact.
According to the U.S. Department of Health and Human Services, about 70 percent of the people over age 65 will require some type of long-term care during their lifetime, and more than 40 percent will need care in a nursing home and have a 20% chance of staying there for at least 5 years.
According to New York Life Insurance Company:
- Over 50% of us will need some form of long-term care at some point.
- Long-term care can drain a family of everything.
- You can buy long-term care insurance, or pay your expenses out of pocket and impoverish yourself and get government assistance.
Another study compared the chances of filing bankruptcy from various causes and found that the highest risk was from nursing home care. As you can see that almost 100% of responsible people have auto and house insurance, but overlook having a critical Long Term Care policy.
INSURANCE STATISTICS: Chances of using Insurance
- Long Term Care 1 out of 2 or 50%
- Automobile Accident 1 out of 240 or .4%
- House Fire 1 out of 1,200 or .08%
Considering these alarming statistics, consumers who want to protect their hard earned assets or ensure that they and their loved ones are taken care of should seriously consider purchasing Long Term Care Health Insurance. Long Term Care USA is dedicated to help you find the right balance of insurance so your family won’t be included in the statistics above. Just click below and take a couple of minutes to fill out the form to receive your confidential quote by mail and that you can analyze in the comfort of your own home.
- Price comparison quotes from all the top insurance companies in the USA, including their financial profile, size, and A. M. Best ratings.
- Easy to understand side-by-side comparisons of each company’s policy features and options.
- We show you the policy similarities and differences.
- Become an expert instantly.