People are living much longer today. In fact, 70% of Americans 65 and above will require some form of long term care, which is known to be costly. The annual monthly cost of a private room in a nursing home costs $8,365 while a semi-private room costs $7,362.
Long term care definitely costs a lot, a big reason why people should start planning early and exploring the best options to help fund your future care needs such as long term care insurance. It is an insurance product that helps pay for long term care services and facilities such as nursing home, adult day care, assisted living, home care and others.
Aside from protecting your assets from expensive long term care costs, this policy can also help you avoid becoming a financial burden to your loved ones. Learn more about reasons why you should buy long term care insurance by checking out the infographic by Association for Long Term Care Planning.
Infographic Source: http://www.altcp.org/should-i-get-long-term-care-insurance-infographic/