Who Needs Long-Term Care?

In the year 2002 about seven million men and women over age 65 needed long-term care. (HIAA, "A Guide to Long-Term Care Insurance," 2002)
By this year, the number is expected to increase to nine million. (HIAA, "A Guide to Long-Term Care Insurance," 2002)
By 2020, 12 million older Americans will need long-term health care. (HIAA, "A Guide to Long-Term Care Insurance," 2002)
Family and friends are the sole caregivers for 70% of elderly people, and most will be cared for at home. (HIAA, "A Guide to Long-Term Care Insurance," 2002)
If you want to protect your freedom of choice when you need long-term care and to protect your family's assets against the cost of an expensive long-term care experience, then you should be protected by long-term care insurance.

Do I Need Insurance to Pay for Long-Term Care?

If you have assets that you hope to pass on to your family after your death, then you will need long-term care insurance. Even a moderately long stay in a long-term care facility can deplete a huge portion of your estate. If you want to be able to pass on your estate in tact and to have control over the type of care you receive if you need this assistance, then you should have insurance for long term care.