70% of people over age 65 will eventually need long-term care.
Long-term Care is insurance that helps with medical and non-medical needs for those with a chronic illness or disability. It provides coverage in the event that your client may someday not be able to take care of themselves. Long-term Care insurance helps cover costs for care providers and support services.
The median annual cost for a private nursing room home is a staggering $112,291/year and $98,128/year for a semi-private room. In-home health aides charge on average, $58,619/year and it will cost your client $57,610/year to be in an assisted living facility.
The median annual cost for a private nursing room home is a staggering $112,291/year and $98,128/year for a semi-private room. In-home health aides charge on average, $58,619/year and it will cost your client $57,610/year to be in an assisted living facility.
Source: Mutual of Omaha's Cost of Care Study 2021