If a time comes when you are no longer able to care for yourself or live on your own, long-term care insurance (LTCI) can cover an array of needs. Consider the escalating costs of care: Genworth’s Cost of Care Survey reveals that in the United States, a private room in a nursing home costs an average of $8,121 a month.
Purchasing an LTCI policy can offer protection for you and your loved ones and give you peace of mind as you age.
Consider these peace-of-mind benefits:
- It protects your savings and other assets and maintains a person’s independence and dignity.
- Professional care is affordable.
- Family and friends don’t have to carry the burden of care.
- Choice of where care is received (for example, a nursing home, assisted living community or at home).
- More versatile services, such as visiting nurses and home health aides; home-delivered meals and chore services; and time in adult daycare centers and respite services for caregivers.
Our financial advisor, David Elster, can help you to navigate the pros and cons of Long-Term Care Insurance – and discuss your changing needs. For details, contact David today.
David Elster, CFP
CUSO Financial Services, L.P.