Help Secure your Financial Future with Long-Term Care Insurance
- May 17, 2023
One of the biggest risks to your retirement is a long-term care event. At least 70% of people over age 65 will require some form of long-term care services. Have you done the proper planning to protect your assets?
American’s are living longer, and saving during their working years to accumulate enough wealth to comfortably maintain their lifestyle in retirement. Don’t let unexpected costs from a healthcare event interrupt your retirement objectives.
Long-Term Care Facts
The national average cost of one year of nursing home care is over $85,000 and in-home care can cost much more.1
National average rates for nursing home and assisted living continue to increase by an average of 4.5% annually.2
Long-term care insurance covers more than just nursing homes. It can cover...
- Care in your home such as skilled nursing care, occupational, physical or other forms of therapy and help with in-home personal care
- Assisted living facilities, Alzheimer’s care facilities, adult day care centers, hospice and respite care centers
- Home modifications such as wheelchair ramps and grab bars
Long-term care insurance can help protect your assets in the event you cannot safely care for yourself. It is designed to cover long-term care services and support in a variety of settings such as your home, a nursing home or other facility. It also may provide confidence that you or loved ones will be able to afford the help that might have been provided by family or friends in years past.
Consult with your Oppenheimer Financial Professional today to determine what coverage is right for you.
Sources & Disclosure
1Longtermcare.gov, 2017 How Much Care will you Need, Costs of Care.
2Genworth Cost of Care Survey, 2017.
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