Top 10 Popular Reasons to Get LTCI

1. Reasons to Get Long Term Care Insurance TOP 1 To Protect Assets 10 ACSIA surveyed long term care experts and agents about the reasons why people should get long term care insurance. Here are the top ten most popular answers. $53,657 Median Monthly Rates of Long Term Care in 2015 Median Annual Rates of Long Term Care in 2015 or Assisted Living Facility Semi-private Nursing Home $4,471 Private Nursing Home Median monthly income $0 $3,200 $4,200 $43,800 $80,300 $91,250 2 To Relieve Burden on Family 1 in 6 Americans provide care for a family member, relative or friend. 15% Caregiving responsibilities directly affect careers of family caregivers. 29.64% homecare and nursing home services combined 42% 25% of daughters agree that their career has suffered of wives say the same of husbands say the same 70.35% unpaid family caregivers 3 To Get High Quality Care Private nursing home median daily rate in 2015 Median hourly rate of home health aide in 2015 Semi-private nursing home median daily rate in 2015 $220 $20 $250 4 To Choose Care and Provider Median Annual Cost of Care 2015 $43,200 $80,300 Homemaker Services: Assisted Living Facility: $44,616 $45,760 $17,904 Home Health Aide: Adult Day Health Care: Semi-Private Nursing Home: Private Nursing Home: $91,250 5 To Stay at Home 4% 9% prefer to move to a facility where care is provided. prefer to move to a relative's home. 82% Prefer to stay at home for their long term care services. 6 To Enjoy Peace of Mind 91% 97% of Americans make no advanced plans for their long term care needs . that one spouse will require long term care for couples. 7 To Have a Plan for the Future 1 in 10 US citizens over 55 have long term care insurance Median income of households with people 65 and older. $36,895 8 To Maintain Independence Family caregiver’s hours per week dedicated to Caregiving (2012) Medicaid and CHIP cover nearly 70 million people since 2015 Age 15-24 25-44 45-54 55-64 65-74 75+ Hours 0 5 10 15 20 25 30 35 9 To Leave a Legacy $59,000 $1.5 million Average amount of inheritance of baby boomers Average retirement income of seniors 10 To Preserve Quality of Life Used by Americans in leisure travel $526 B 42% of seniors' annual spending on travel goes towards cruises. In 2007, seniors were willing to spend up to For their travel $126 B Resources https://www.agingcare.com/Articles/state-of-caregiving-2015-report-177710.htm http://www.nextavenue.org/who-americas-caregivers-are-and-why-it-matters/ http://www.caregiving.org/caregiving2015/ http://www.caregiving.org/wp-content/uploads/2015/05/2015_CaregivingintheUS_Final-Report-June-4_WEB.pdf http://www.iyhusa.com/AginginPlaceFacts-Data.htm http://www.fa-mag.com/news/the-boomer-effect--reducing-the-impact-of-senior-care-on-the--largest-generation -in-history-and-their-gen-x-heirs-22200.html http://www.advisorperspectives.com/dshort/updates/Household-Incomes-by-Age-Brackets https://www.caregiver.org/selected-caregiver-statistics https://smartasset.com/retirement/average-retirement-income http://blog.virtuoso.com/traveler_trends/9-key-details-revealed-retirees-and-travel/ http://www.businessinsider.com/heres-how-much-americas-affluent-spend-on-vacation-2015-7 Brought to you by: Visit this site for more info: ltcga.com