Long-Term Care Insurance Awareness Month
Many individuals are unaware of what long-term care insurance entails and the benefits it offers. As a nonprofit organization, our goal is to educate consumers about this type of insurance and its advantages for both you and your loved ones.
What You Need to Know About Long-Term Care Insurance Guide
We have recently updated our guide with the most current information. You can access and download it for your convenience.
Long-term care insurance provides you with the flexibility to choose how, when, and where you receive care, as well as how it is financed. This coverage, along with other products like life insurance, empowers you to make decisions regarding your care needs.
Tweetable Facts about Long-Term Care Insurance
- Nearly one-third of individuals consider long-term care expenses a significant financial worry, yet only 15% possess long-term care insurance.
- 80% of at-home long-term care is provided by unpaid caregivers, who dedicate an average of 20 hours per week.
- Despite 57% acknowledging a personal need for long-term care insurance, only 15% have obtained it.
- 58% of long-term care caregivers, often unpaid, have demanding responsibilities such as assisting with bathing or feeding.
- 8% of individuals aged 40-50 have a disability that may necessitate long-term care services.
- 69% of individuals aged 90 and above have a disability.
- The average cost of a home health aide is $135 per day or $4,099 per month.
- An assisted living facility costs around $123 per day or $3,750 per month on average.
- Private room nursing home care averages $267 per day or $8,121 per month.
