Many Americans do not plan ahead financially for their long term care needs. Others wrongly assume that Medicare, Medicare supplemental policies or standard health insurance policies will cover the costs of long term care services provided in settings such as nursing facilities or assisted living residences. Consequently many Americans are needlessly impoverished each year by the costs of long term care.
As people are living longer and longer, the need for planning ahead becomes even more important. Long term care is a high cost, high probability event that with the proper planning can be protected.
According to the U.S. Department of Health and Human Services, about 70% of individuals over the age of 65 will require at least some type of long-term care services during their lifetime.
Southern Insurance & Annuities is dedicated to safeguarding clients from the expense of long-term care by educating them about issues surrounding long-term care and providing appropriate insurance solutions.
Each year Genworth, one of the nation’s leading long-term care insurer releases a study related to the costs of actual long-term care expenses. The 2011 study is the most complete resource available today. A copy is available by clicking here.