Simplifying Long-Term Care Planning
- July 29, 2020
One of the biggest risks to your retirement can be a long-term care event. If you or a loved one ends up needing long-term care (LTC), the expense can be shocking. The average cost of a semi private nursing home room in 2018 was $89,425 per year. Someone turning age 65 has almost a 70% chance of needing some type of long-term care services in their lifetime.*
There are many strategies available to help fund for these costs, a long-term care insurance policy being one of them. It can cover a range of services to meet your personal care needs either in a nursing home, assisted living facility or in home care.
The Three Paths to LTC Insurance Coverage
Traditional, Stand-alone LTC
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Linked Life/LTC Insurance
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Life Insurance with LTC Rider
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Contact your Oppenheimer Financial Professional today to explore the different long-term care options available to you.
Disclosure
* Source: https://longtermcare.acl.gov
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