Is Long-Term Care Insurance Worth It?

long term care insurance worth it

Growing older can be a wonderful thing—after devoting much of their time to working, planning their future, and trying to get to each new stage of life as fast a possible, older people often view their senior years as a much-deserved opportunity to relax. They find themselves with more time to spend with family and friends and can partake in activities they enjoy. But sometimes, an older person in your life may need a little extra help with their daily tasks. While having a nurse around may be right for your elderly loved one, the price may not be. That’s why for many people, a long-term care insurance policy is absolutely worth it.

What does long-term care insurance protect you against?

Long-term care insurance protects you against many of the costs that come with aging or long-term illness. Long-term care costs are typically quite high, and these costs can be different for everyone because one person is not going to need the same care as another. Nursing homes, stay-at-home nurses, or an adult day care center are all things that could be potentially covered by long-term care insurance. Uninsured nursing homes can cost thousands of dollars per month and potentially hundreds of thousands of dollars over time.

Who should potentially think about investing in long-term care insurance?

The older you get, the more likely you are to develop some need for assistance in performing the daily tasks you do to stay happy and healthy. If you know older people who think they may need long-term care in the future and they do not have the immediate savings to cover it, then perhaps long-term care insurance is in their best interest. Also, long-term care insurance covers much more complex care than general Medicare or your average health insurance which does not cover long-term care.

Graphic for Long-Term care

Where Should You Turn to Ask Questions?

Here at Avery Hall Insurance, we have a dedicated team of agents and administrators who have dedicated their time to helping older people enjoy their senior years to the fullest. If you have any further questions about long-term care insurance, contact one of our team members today at 410-742-5111, or request a quote right here on our website.

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