Your life, your choice
There are plenty of decisions
to make for retirement...
- Fishing or golf?
- Motor home or
long-awaited cruise?
- A house at the beach —
or close to the grandchildren?
Long term care insurance may help you avoid a far more difficult
decision: whether to exhaust your savings or liquidate your assets to
pay for a period of long term care. This policy may help you be prepared for the
financial realities and help you maintain control of some important decisions,
such as:
- Who would take care of me?
- Where can I choose to receive care?
- Would I be a burden on my children if my savings
couldn't cover my care?
What is long term care?*
Whether it's due to a motorcycle accident or a serious illness, it is the type
of care you may need if you couldn't independently perform the basic activities
of daily living: bathing, dressing, using the toilet, transferring from one
location to another, continence and eating, or if you suffered severe cognitive
impairment from a condition such as Alzheimer's disease.
Who's at risk?
Long term care insurance is not just for the elderly.
- Only 16% of American workers say they are very confident they would have
enough money to pay for long term care expenses in retirement.1
- 70% of people turning age 65 can expect to use some form of long term care
services during their lifetime.2
- Anually, about 9 million people use long term care services.3
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How does this coverage help?
Here are some examples of how you
may use a long term care benefit of
$3,000 per month, based on the
national averages for care:4
|
Home health: |
| • Long term care annual benefit |
| • Home health aide ($21/hour) |
| • Left over for out-of-pocket expenses |
|
|
$36,000 |
| - |
$27,300/year** |
| = |
$8,700 |
|
| Assisted living: |
| • Long term care annual benefit |
| • Assisted living ($3,293/month) |
| • The cost of care you will pay out-of-pocket |
|
|
$36,000 |
| - |
$39,516/year*** |
| = |
$3,516 |
|
| Private nursing home: |
| • Long term care annual benefit |
| • Private nursing home ($6,965/month) |
| • The cost of care that you will pay out of pocket |
|
|
$36,000 |
| - |
$83,580/year*** |
| = |
-$47,580 |
|
* To be eligible for benefits, the insured must be a chronically ill individual, with qualified
long-term care services provided pursuant to a plan of care prescribed by a licensed health care
practitioner.
**Based on receiving care five hours a day/five days a week at $21/hour. For
illustrative purposes only.
***Nursing home care based on receiving 24-hour care for one year. Assisted living based on
12 months of care.
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How to
apply |
 |
Your benefit enrollment is coming soon. To learn more, watch for information from your employer. |
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