[et_pb_section fb_built=”1″ make_equal=”on” specialty=”on” padding_top_bottom_link_1=”false” padding_top_bottom_link_2=”false” padding_left_right_link_1=”false” padding_left_right_link_2=”false” padding_top_2=”20px” padding_right_1=”50px” custom_css_main_1=”border-right:1px solid #eeeeee;” _builder_version=”4.3.2″ inner_width=”90%” inner_max_width=”none” inner_module_alignment=”right” custom_padding=”60px||||false|false” top_divider_color=”#3390ff” top_divider_flip=”vertical|horizontal” top_divider_arrangement=”above_content” global_colors_info=”{}”][et_pb_column type=”3_4″ specialty_columns=”3″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.3.2″ custom_padding=”20px||||false|false” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.3.2″ global_colors_info=”{}”][et_pb_button button_url=”\/long-term-care-insurance-101″ button_text=”Long-Term Care Insurance 101″ module_class=”button_icon_right” _builder_version=”4.13.0″ custom_button=”on” button_border_width=”0px” button_letter_spacing=”0px” button_icon=”9||divi||400″ custom_padding=”0em|0em|0em|0em|false|false” global_colors_info=”{}”][\/et_pb_button][et_pb_text _builder_version=”4.4.7″ _dynamic_attributes=”content” header_font_size=”38px” custom_margin=”||||false|false” custom_padding=”||||false|false” locked=”off” global_colors_info=”{}”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][et_pb_text _builder_version=”4.14.2″ hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
The cost of long-term care insurance depends on several factors. They include:<\/p>\n
The U.S. Department of Health and Human Services reports that 69% of people will use long-term care services at some point.\u00b9<\/p>\n
Unfortunately, this care does not come cheap. Consider the national median costs for long-term care services\u00b2:<\/p>\n
The cost of long-term care map below shows the median costs for home health aide care and private room nursing home care. As you can see, costs can vary considerably depending on where you live.<\/p>\n
[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.5.6″ _module_preset=”default” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.5.6″ _module_preset=”default” global_colors_info=”{}”][et_pb_code _builder_version=”4.5.6″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
<\/p>\n
<\/ul>\n
<\/div>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/div>\n
<\/div>\n
<\/div>\n
<\/div>\n
[\/et_pb_code][et_pb_text _builder_version=”4.14.2″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
Source: Genworth Cost of Care Survey 2020<\/a>, conducted by CareScout\u00ae, August 2020<\/p>\n [\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.4.9″ global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.9″ global_colors_info=”{}”][et_pb_text _builder_version=”4.4.9″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.5.1″ global_colors_info=”{}”]<\/p>\n It\u2019s important to know that Medicare provides only limited coverage for long-term care, while Medicaid only steps in once you spend down your own savings.<\/p>\n Relying on a family member to provide care is another less than ideal solution. That\u2019s because caregiving is often emotionally and financially exhausting. This is especially true when the caregiver is a spouse or partner also facing their own aging health issues.<\/p>\n Long-term care insurance is a way to protect your assets, spare your family members from the toll of caregiving and gain needed peace of mind. Today, long-term care insurance can also be bundled with life insurance coverage. This means you get two important coverages in one policy: life insurance coverage that offers your loved ones financial support if you were to pass away or long-term care coverage if a chronic illness or disability requires you to need long-term care.<\/p>\n With these policies, your family would receive a death benefit if you never need long-term care. Learn more about the benefits of these hybrid policies<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.5.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.5.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.14.2″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]\u00b9 U.S. Department of Health and Human Services<\/a> Learn more<\/p>\n [\/et_pb_text][et_pb_sidebar orientation=”right” area=”et_pb_widget_area_7″ show_border=”off” _builder_version=”4.4.9″ body_text_color=”#002838″ body_font_size=”14px” body_line_height=”1.3em” custom_padding=”20px|80px|||false|false” global_module=”11348″ global_colors_info=”{}”][\/et_pb_sidebar][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" The cost of long-term care insurance depends on several factors. They include: Your age. You’ll typically get a better rate the younger you are. This is why insurance professionals recommend that you start stopping for long-term care in your 40s or 50s. Your health. People in better health generally pay less than people with health […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":11271,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-12019","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nWhy Long-Term Care Insurance is Important<\/h2>\n
\n\u00b2\u00a0Genworth Cost of Care Survey 2020<\/a>, conducted by CareScout\u00ae, August 2020[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.14.2″ text_font=”Montserrat|600||on|||||” text_font_size=”15px” custom_margin=”0px||0px||false|false” custom_padding=”58px|||20px|false|false” global_module=”2892″ global_colors_info=”{}”]<\/p>\n