Types of Long Term Care Insurance

Types of Long Term Care Insurance
Our world is crammed full of statistics, and, a good many of them are related to our short-term and long-term health.  The latest surveys show that Americans are living longer.  Well… hooray to that factoid, and to know that we have a longer life expectancy might just fulfill our every dream and allow us to check off every last bucket list item.

But, the other statistics don’t paint such a rosy picture.  Even if you don’t have any health-related genetic issues, and are relatively healthy, it is logical to assume that the older you are, the more likely that long-term care is in the cards for you. Even if you are blessed with good health now, a chronic condition such as high blood pressure or diabetes, or even a history of lackluster diet and exercise habits, could severely debilitate you in later years, thus necessitating long-term care.

Did you know?

  • 70% of people who reach the age of 65 can expect to need some form of long-term care during their lifetime?
  • Women outlive men by about five years on average, so they are likely to be living solo in the home once their spouse has passed away?
  • Disability from an accident or chronic illness accounts for many needing long-term care? Between the ages of 40-50, 8% of people have a disability which might require long-term care services and after age 90, the percentage jumps to a whopping 69%.

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Types of Disability Insurance

Types of Disability Insurance
If you work for a large or medium-sized company, you’ve probably never given much thought to disability insurance or life insurance.  Those are just a couple of benefits, (or “bennies” as that term is often used), that a company generally provides to its employees.  The larger the company, the cheaper the premiums are to the company, and they are able to provide some peace of mind to their workforce.  In fact, it is probably something that most employees just take for granted.

If you are launching your own company, or leaving a company where disability benefits have always been provided, you should ensure that you have a disability insurance plan in place as quickly as possible.
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