LONG TERM CARE INSURANCE
When You Need Help with Daily Activities
Someday, you may have difficulty getting dressed, eating, and going to the bathroom on your own. According to common statistics, this will be 70% of those over age 65. These people will likely end up in a nursing home or assisted living facility.
An article from the San Diego Union-Tribune in 2016 reported that the median cost for a private room in a nursing home was $92,378! That's in today's dollars. Even a well-funded retirement account will drain quickly with these expenses. The average nursing home stay is 2.5 years. This would equal more than $230,000 if you're in the "average" category!
The best time to buy long term care insurance is in your 50s and early 60s. Why is that? Because the younger you are and the healthier you are, the less it will cost to insure you. Additionally, some insurance companies will have simpler approval (underwriting) criteria when you're under 65.
Valdez Insurance Solutions contracts with a few high-quality insurers to make sure you will have sufficient funding to afford quality care in a quality facility.
If you are 79 years old or younger, we can start the discussion and see if long term care insurance is right for you. Set An Appointment with us here.