Posted by Jill Boynton on May 4, 2017
The following statistic came to my attention recently: “According to a recent study in the Journal of Aging, a full 50% of those over 65 will need care that’s sufficient to trigger benefits under a long-term care policy – substantial assistance with 2 of 6 activities of daily living, or substantial supervision due to a cognitive impairment.” That’s a staggering statistic to me. If I told you that you had a 50-50 chance of having melanoma, would you start wearing sun block? If I said you had a 50-50 chance of getting into a serious car crash, would you wear your seat belt? Of course you would! So it baffles me why so many people resist getting a long-term care insurance policy. Remember, Medicare covers only the first 90 days of nursing home care and doesn’t pay for home health care, assisted living and many other features of long-term care insurance. It isn’t cheap, but it’s much cheaper than what you’ll pay for the medical care it covers. Don’t leave it to chance and hope you’re the lucky one who won’t need care – think about the peace of mind you’ll have from knowing you’re protected.