Yes! Long-term care insurance is affordable!
Perspective is defined as a particular attitude toward or a way of regarding something; a point of view.
Are your clients asking you if long-term care insurance is affordable?
Your short answer should almost always be an unquestionable YES! Let’s look at the numbers Based on the recent Cost of Care published by Mutual of Omaha the national average for care is the following:
Home Health Care $55,000+/year
Assisted Living Facility $58,000+/year
Nursing Home (private) $127,000+/year
Sample premium for a 55 year old husband and wife is $3800/combined annually. This is based on $72,000 in benefits annually for 3 years ($6000/month). Even if your client pays that premium for 20 years ($3800 x 20) – it would equal close to 1 year in benefits that the policy will pay out! This policy is designed to last for 2 more years for a total benefit payout of $220,000/person. From this perspective, long-term care insurance is most-assuredly affordable!
The likelihood that your client will need long-term care services is great. Long-term care insurance acts as a coupon to “pre-pay” for those services before they are needed.
Long-term care insurance remains one of the most affordable solutions to your client’s risk of dependency. For more information on the policies available in your state, please contact a member of our marketing team at 1-800-945-1953.