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Long term care is not necessarily long term. You may be laid up for only a short time while recovering from an accident, surgery, or illness. Of those receiving care today 40% are under 65 (actor Christopher Reeve was 42).
But what if you're not going to recover soon and need care for 6 months or a year or two or five, how are you going to pay?
If you cannot afford LTC insurance how are you going to be able to afford to pay for care at $6,000/month?
Why should you plan?
Because, at least 70 percent of people over age 65 will require some long-term care services at some point in their lives. And, contrary to what many people believe, Medicare and private health insurance programs do not pay for the majority of long-term care services that most people need.
– from U.S. Department of Health and Human Services
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Your Options Depend On Your Health *
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Underwriting Required
- No Medications
- Medical condition treated with medication/surgery >6 months
- HBP controlled >6 months
- Joint Replacement >6 months
- Heart surgery >6 months
Long Term Care Insurance
Universal Life Insurance with LTC Rider
Underwritten Fixed Annuity with LTC Rider
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No Underwriting Required
- Alzheimer's/Dementia
- Parkinson's
- Stroke/TIA
- Insulin >75 units
- Surgery scheduled
- No care within last 12 months
Fixed Annuity with LTC Rider
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| * different companies have different underwriting requirements to qualify. The "No Underwriting Required Annuity" may be available for serious conditions that have been diagnosed but do not require care at this time or no care in the last 12 months. These are only examples and vary by state and company. Contact us for specific quotes based on your current age and health. |
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Who Pays For Long Term Care?
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Your Long Term Care Funding Options
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Self-insure Savings/Investments
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Medicaid Welfare
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LTC Insurance
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Life Insurance w/LTC Rider
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Fixed Annuity w/LTC Rider
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No
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No
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Yes
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Yes
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Yes
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No
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No
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Yes
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Yes
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No
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Partnership Asset Protection 3
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No
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No
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Yes
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No
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No
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$200/day,$6000/mo
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Poverty level
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$2-3k/yr.
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$100k+ 1x pay
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$100k+ 1x pay
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No
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No
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No
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Yes
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Yes
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35
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54
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9
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1
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-1
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