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Thirteen million baby boomers are caring for ailing parents, and 25% live with them.1

Defining Long Term Care

The need to plan for long term care is an increasingly important issue facing individuals today. Chances are you've heard the term before, but exactly what is it? Long term care is the assistance received when someone needs help with two or more Activities of Daily Living —such as dressing, bathing, going to the bathroom, eating or moving about —or when someone suffers a severe cognitive impairment. This care could be provided in the home, in an assisted living or residential care facility, or in a skilled nursing facility such as a nursing home.

It Can Affect You

Most people don't think about long term care until it affects someone close to them. If you've cared for an aging parent or close relative, a husband or wife, or a child who has had a debilitating injury or illness, you probably realize the implications of providing and needing this type of care. Even those who have been conscientiously saving for retirement could experience financial setbacks. That's because without long term care insurance, prolonged expenses can add up quickly.
  • The national average for long term care is close to $70,000 per year.2
  • The average hourly rate for a home health aide is $25. Based on this rate, four hours of home health aide services daily would total about $36,500 a year.3
  • Long-term care costs are expected to double by the year 2025 and nearly quadruple by 2050.4
What's even more alarming is that individuals and their families usually bear the weight of this financial burden. Health insurance doesn't cover most expenses related to long term care. Government funding falls short by providing limited financial support from Medicare. And although Medicaid covers approximately half of the nation's nursing home expenses, you must first deplete the vast majority of your assets to qualify.5

The Need for Long Term Care

There are 10 million people who need long-term care today.6 And because women generally outlive men by several years, they face a greater likelihood of entering a nursing home after age 65.7

Long term care insurance can help you preserve your independence and financial security, and can help relieve your family members of the burden of making decisions about how to pay for care.

In addition, long term care insurance provides you with a choice of how and where you will receive care. Like most people today, you want to receive quality care that lets you stay at home for as long as possible and have the flexibility to choose the care options that work best for you and your family. Long term care insurance gives you the option to do just that.

The Impact of Long Term Care

Once considered an issue concerning only older adults, long term care now affects a younger population. Chances are, if you're not the person actually needing care, you may be the one providing it.

Many of these caregivers are working age adults who must balance a career with the needs of their family member. Long term care insurance can provide needed resources for care � taking the focus off financial restrictions and helping caregivers spend more time with loved ones.

Why Buy Our Long Term Care Insurance Through Your Workplace?

Signing up for coverage at the workplace is simple and you can pay your premiums through convenient payroll deduction. In addition, this coverage is available to your family members. Based on the plan your employer is offering, you can apply for coverage now with little or no medical underwriting. Medical underwriting means that you must complete a medical questionnaire. Benefits may be subject to a pre-existing condition exclusion.

Plan Now-Benefit Later

Long term care insurance is an important part of your financial or retirement planning. Purchasing coverage now gives you the most affordable rate. It can also give you comfort in knowing that you're helping to preserve your retirement funds and savings for you and your family.

LTC Connect®

We realize that the need for long term care raises issues and questions that you may have never considered. When you need answers to your long term care questions, turn to LTC Connect®, an information and referral program available to you and your family. This program, offered at no additional cost, helps you effectively deal with your long term care questions and concerns, and can link you to the most appropriate long term care providers in your area.
There are 10 million people who need long-term care today.6

Look to a Leader

As one of the nation's leading disability insurers, we have developed long term care solutions that can help preserve your assets. Our LTC insurance can help secure your future and the futures of those you love, and it may be one of the most economical ways to manage life's risks. You protect other things you hold dear—such as your home, your car, even your life, but why not preserve one of your greatest assets—your financial future? Purchasing long term care insurance from us won't make you invincible, but it can help secure your assets against the costly effects of long term care. To learn more about how our long term care insurance can be part of your financial portfolio, call your representative today or visit our web site at www.unum.com.

1 Senior Journal.com, "Thirteen Million Baby Boomers Care for Ailing Parents, 25% Live with Parents," October 19, 2005.
2 Georgetown University, Long-Term Care Financing Project, "National Spending for Long-term Care Fact Sheet," January 2007.
3 Georgetown University, Long-Term Care Financing Project, "National Spending for Long-term Care Fact Sheet," January 2007.
4 "Medicaid in Crisis: Could Long Term Care Partnerships Be Part of the Solution?" Testimony by Senator Larry Craig, 2004 committee chairman, before the U.S. Senate Special Committee on Aging, June 22, 2004.
5 The Kaiser Commission on Medicaid and the Uninsured. "Myths & Facts, Medicaid's Role In Long Term Care, Q&A Fact Sheet." Cited September 26, 2006.
6 "Long-Term Care Financing: Are Americans Prepared?" Testimony by Senator Herb Kohl, 2006 committee chairman, before the U.S. Senate Special Committee on Aging Committee chairman, March 9, 2006.
7 AARP, Policy & Research for Professionals in Planning, 2005.