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Long Term Care

You may be surprised to learn that one out of three Americans over the age of 65 will spend a period of time in a nursing home. And, the average stay is about three years.

Today, that can easily cost $170,000, and in some regions twice that amount.

For the most part, Medicare, Medicare supplements, and your health insurance do not cover these expenses. Many who begin paying for nursing home care find their savings are not enough.

So, how can you ensure you will be able to have the care you need?

One way is with long term care insurance. In addition to nursing home coverage, long term care insurance covers visiting nurses, home health aides, friendly visitor programs, home delivery meals, chore services, and adult day care centers.

Remember, most of us are likely to need some assistance later in life — either at home or in a nursing home. Consider how you will pay for these expenses. You may want to include long term care insurance in your financial plan.

Anyone with even a passing experience with Alzheimer's, stroke, Parkinson's or elder frailty can appreciate the severity and financial devastation of these all-too-common life events and the inevitable care required. This is why we need protection.

  • The average Ancient Greek lived until age 18. The median life span of a Puritan was 33. The average American life expectancy is now about 75 years for men, 84 for women. Over half of Americans will spend part of these extended years in long term care situations.
  • By 2030, one in five Americans will be a senior citizen. If you are a Baby Boomer, this includes you. Americans are living longer and healthier, thanks to better diet, better medical care and safer living & working environments. Yet no one is immune to the effects of aging and longevity - effects that often result in reduced physical or mental ability.
  • In 1994, 7.3 million Americans needed long term care (LTC) services at an average cost of nearly $43,800 per year. By 2000, this number rose to 9 million Americans at nearly $55,750 per year. It's currently near $75,000 per year. By 2030 those needing LTC will skyrocket to 23+ million Americans, with projected, individual long term care costs reaching $300,000 annually per individual!

Will you have that kind of money to spare?

With a history of millions of Americans in care situations living with longevity, elder frailty, stroke, Multiple Sclerosis, Parkinson's, Alzheimer's, Spinal Cord Injury, Cerebral Palsy, accidents and other conditions that affect 50+% of folks over age 65 , we can testify to the need for mature thinking and adult decisions when it comes to long term care planning.

For more information and quotes, please call or e-mail.


Moti Gur is a Registered Representative with and securities offered through Financial Network Investment Corp and Cetera Adviser Networks LLC.
A registered broker/dealer, Investment advisor and member FINRA/ SIPC
3807 Wilshire Blvd, Suite 1040 Los Angeles, CA 90010 213-385-6237

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