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Long Term Care is one of the most under estimated threats to financial
security for seniors, with research showing that more than half
of the US will likely need it at some time in their future. Long
term care insurance (LTCI) is a type of insurance that pays for
some or all of an individual's long term care expenses.
These costs are typically related to a physical illness, disability,
or cognitive impairment that exists for a long period of time.
Long Term Care is normally associated with a nursing home stay,
home health care, adult day care, or direct personal care from
an assisted living facility.
A recent study projected that 43% of people turning 65 will need
some form of long term care in their lifetime. The study also
projected that 55% of people turning 65 will have a nursing home
stay of at least one year, and 21% will have a stay of 5 years
or more. With nursing home costs averaging anywhere between $35,000
a year to $55,000 a year, the impact on personal savings without
insurance can be devastating.
The NSAB can provide individual direction and a concrete retirement
and health plan to ensure you get the most value and protection
for the lowest cost. For a free interview and personal consultation
on Long Term Care, please complete the form to the right.
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