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Turning 65 Testimonials Learn About Medicare

Long-term care insurance seems like something you can put off. If you are young and healthy, the thought of being unable to work is likely far from your mind. Yet, there is risk. As you get older, the need for health insurance that meets these more expansive needs grows, but many people continue to put it off. The fact is, long-term care insurance is essential in nearly all situations. It does not have to be expensive to obtain though.

Many people do not spend a great deal of time studying their health insurance, life insurance and other insurance policies. Most of these policies have limits on them. Once you reach those limits, you become responsible for the costs associated with the policy. Year after year, those costs can add up quickly if you are forced to spend months in the hospital or even in a long-term care facility. And for older people who are more likely spend much time in such a location, Medicare and Medicaid may not provide enough protection. Consider these statistics:

  • 40 percent of people who are older have long-term care needs and are poor or near poor.

  • 78 percent of elderly individuals need long-term care, and many will need to rely on family to provide it.

  • The average age of being admitted into a nursing home facility is 79.

  • About 40 percent of individuals that reach the age of 65 will enter a nursing home during their lifetime.

  • The average length of a stay in a discharge nursing home is 272 days.

  • 10 percent of people who enter a nursing home will remain there for five to ten years.

What does this mean for you? In short, whether you are younger or older, the cost of living in a long-term care facility is very high and a traditional health insurance policy may not offer enough financial protection for you to remain there. A long-term care insurance policy, on the other hand, can reduce these risks, give you more freedom in selecting a location that is right for you and help you avoid having to choose lesser quality care for yourself or other named individuals on the policy.

Are you covered? Call Sun Coast Legacy Advisors at (888) 455-5799 for more information on Florida long-term care insurance.

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