Long Term Care Insurance

What is Long Term Care?

Long term care is the services and supplies designed to provide care for us as we age - service to help with dressing, bathing, eating and moving about your place of residence. It can be provide in a variety of settings: your home, adult day care, assisted living and nursing homes.

What is your largest financial risk... doctor and hospital bills? No. As you plan for your future years keep in mind that your largest financial risk is the cost of long term care.

The Medicare Myth:

A survey conducted by AARP showed that 79% of those expecting to need long term care believed incorrectly, that their Medicare would foot the bill! (Source: U.S. News and World Report)

If you were to have an accident or become sick, and need assistance to dress, eat, bathe, get in or out of bed or go to the bathroom (activities of daily living) where would you get the help? What if the problem required professional help such as skilled therapy, occupational therapy, physical therapy, skilled nursing care or custodial nursing care? Where would you get this help?

Are your options limited to the hospital or nursing home? If you could stay in the comfort of your own home, would that be your first choice?

What are the problems that we encounter when faced with the long term care dilemma?


Long Term Care Facts

  • 7 out of every 10 couples turning 65 this year will require the use of long term care.
  • Medicare and Medigap policies cover less than 3% of long term care.
  • 1 Million people deplete their LIFE SAVINGS and are impoverished EVERY YEAR due to long term care.
  • Long term care is expensive! The average cost is 80,800 per year nationwide.

How would a bill this size affect my current lifestyle? How about my spouse's lifestyle? What about my spouse's future years?

If you have assets you want to protect, if you want to maintain your independence, if you want to never be a burden on your family or if you want to protect your lifestyle, we will help you find the way.

More Facts About Long Term Care

  • 81% of our medical dollars are spent on long term care.
  • 12 million people are currently receiving long-term care and growing. 82% being cared for at home or in Assisted Living. Only 18% in nursing homes.
  • Average stays:
    • Nursing Home = 2.6 years
    • Home Health Care = 4.5 years
    • Assisted Living = 18 months
    • Life span of Alzheimer's patient = 4.9 years on average -- 5.7 for women, 4.2 for men
  • What are your chances of needing long term care?
    • Homeowners Catastrophe: 1 in 1,000
    • Automobile Collision: 1 in 400
    • Heart Attack or Cancer: 1 in 4
    • Long Term Care: 1 OUT OF EVERY 2
  • Would you consider going without your homeowner's or automobile insurance?
    • 5 out of 1000 people have a house fire (average loss is $3,428).*
    • 70 out of 1000 people will have an auto accident (average loss is $3,000).*
  • What about long term care?
    • 600 OUT OF 1000 PEOPLE WILL NEED LONG TERM CARE (AVERAGE COST $80,000+ EACH YEAR).**

Should you buy insurance for the least likely or most likely events?

*Society of Actuaries 1995

**Health Insurance Associate of America, HIPPA

Solutions for Long Term Care

Medicaid/Welfare

Is Medicaid the right answer for you and your family?

  • If your income exceeds $1,638 per month you won't qualify until:
    • You have spent your assets down to under $2,000.00
    • These assets include: cash, stocks, bonds, retirement accounts, CD's, treasury notes, savings bonds, investment property, farm ground, second vehicles and more.
    • Once this spend down occurs, then all sources of income are used to go toward long term care expenses. This includes: social security, retirement income, pensions, etc...
    • This leaves the welfare recipient an average income nationwide of $30 per month!
  • Welfare also eliminates your freedom of choice as to which type of care you receive. Adult day care, assisted living and most home health care services are not covered under welfare. Also the government is considering a Medicaid bid for beds program to help cut costs.

Can You Use Your Resources?

  • Savings/CD's: You could wipe out the savings it took a lifetime to accumulate
  • Sell Assets: Do you have enough in assets to do the job? What kind of price will you get from a forced sale at a time that might not be appropriate?
  • Do you have family and/or friends to take care of you?
  • Will they be available 24/7 to take care of you?
  • Can you think of any other way to pay for the long term care you or your spouse may need?

Your options are simple:

  1. Be Rich - Very Rich.
  2. Be Poor - Very Poor.
  3. Be Insured.

Why Long Term Care Insurance?

Insurance solves the problem for pennies on the dollar. Insurance guarantees that you will have long term care services and options when you need them.

Long term care insurance guarantees:

  • You will not be a burden on your children.
  • You will be able to maintain your independence and freedom of choice.
  • You will protect your life's work from the expenses of long term care.
  • You will protect the lifestyle of your spouse.

What Can Kansas Life do for You? We Can Give You Options.

  • Coverage for: Nursing Homes
  • Coverage for: Assisted Living
  • Coverage for: At Home Care
  • And combination plans - Plans tailored to fit your needs and more importantly your budget

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