Long-Term Care Insurance (LTCI)
Though a century ago, Americans could only expect to live about 39 years, in 2018, the Center for Disease Control reported that the average life expectancy for males today is 76.1 years, while the life expectancy for females is 81.1 years. What that means is that if a person becomes unable to work and provide for their family at a relatively young age, they could possibly live decades longer with no income, and no ability to purchase even the most basic necessities.
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Medicare and Medicaid is Not Enough
How important is it to be prepared for a longer life? In addition to the money required for day-to-day living, long-term care costs can quickly drain one’s finances. According to the Harvard University Study in Compensation & Benefits Review, three out of every four Americans become impoverished after just one year of nursing home care, which is not typically covered by private medical insurance and major medical insurance plans. Medicare usually only pays for skilled and rehabilitative care for 90 days after a three-day hospital stay, and that coverage excludes custodial care, which most people requiring that type of service need. Plus, Medicaid will only cover your care if you have total cash and assets of less than $2,000.
LTCI - Help Your Aged Loved Ones
Though many who purchase LTCI policies are doing it for themselves, sometimes families are looking for ways to help their aging loved one. Having a conversation about how to care for a family member in later age is, many times, very difficult. The fact is that planning ahead is crucial to ensuring that you or your loved one will be provided for with the highest quality care and quality of life, in a safe and secure environment.
The American Health Care Association/National Center for Assisted Living suggests that families have this conversation sooner, rather than later, and when you do, be well-prepared with relevant information about options and costs. Let the Long-Term Care Insurance specialists at Valiant Insurance help guide you and your loved one through the process.
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3277 Fruitville Road
(Building F1)
Sarasota, FL 34237
Ruskin, FL
Our Ruskin Office is currently closed. However, we understand that there may be circumstances where an in-person meeting is necessary. In such cases, we kindly request that you send a meeting request to our dedicated service team at
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