Long Term Care Insurance
No one likes to think about growing old, or needing help just to do your basic daily activities. We can’t ensure that we won’t need help from others as we age, but Long Term Care Insurance can ensure that if that time comes, you’ll have the support you need.
As you plan for your future care there is some information to keep in mind. Long-term care services can be provided in your home, in an assisted living facility or nursing home, or in a community program like an adult day care center. Some people only need long-term care for a few months, for example, while recovering from surgery, while others may need care for the rest of their life.
Overall, the cost of care among facility-based providers has steadily increased. The cost of a nursing home semi-private room has seen five-year annual cost growth of 3.91% and for a private room there has been 4.19% five-year annual cost growth.* According to the Genworth Cost of Care Survey for 2014, the median annual cost for a semi-private nursing home room is $77,380. As these costs continue to rise, the need for long-term care insurance increases.
Advice Focused On You
For help in deciding what type of insurance best meets your goals and objectives, our Financial Advisors have the know-how to help you navigate the world of insurance. Call us today at (800) 392-3009 to schedule an appointment with a Financial Advisor or visit a People's United branch and ask to see one of our life insurance licensed employees.