This infographic created by the SCAN Foundation highlights the high costs of long term care – and the lack of confidence Americans have in their ability to pay for care. With statistics like this (and the fact that 70% of Americans over 65 will require care), it is surprising that many fail to consider long term care insurance. While no one enjoys thinking about the possibility of needing care, long term care insurance is most cost effective if purchased at a younger age. There are also more options than most realize, such as insurance hybrids that include long term care insurance and life insurance. These hybrid plans essentially guarantee that the coverage you pay for will be used during your life time, even if you are part of the 30% that won’t require care. Meet with an experienced elder law attorney to discuss if long term care insurance is right for you.
I’m often asked if I specialize in elder law. Not only do I answer “yes”, I typically try to explain the reason for my answer. While there are many attorneys who claim to be elder law attorneys, certainly not all specialize in it. I believe an attorney who claims to specialize in elder law should […]
Assisted living is a growing industry. According to the Centers for Disease Control and Prevention, as of 2014, 835,200 older Americans resided in assisted living facilities, an increase of over 100,000 residents in just four years. For many older Americans, assisted living offers hope of receiving help with meals, medications or other activities of daily […]
Many baby boomers are facing the decision of whether or not to buy long term care insurance. Unfortunately, most choose not to purchase coverage leaving their assets at risk of being wiped out if long term care should be necessary. While the odds of requiring long term care services are significant – more than 70% […]