Bahr Advisory Services

You should consider buying long term care insurance if:

• You have assets and income you want to protect

• You want to avoid burdening your family with extensive caregiving responsibilities

• You don't want to depend on government programs for care

• You want to be able to choose where you receive care

• You want to receive high quality care

Even though you plan to remain healthy, active and independent, there's a good chance, at some point, you'll need help. Consider the following statistics:

• Life Expectancy after age 65 has now increased to 17.9 years. The longer people live the greater the chances they will need assistance due to chronic conditions. ⁽¹⁾

• About 12.8 million American of all ages requires long term care, but only 2.4 million live in nursing homes. ⁽¹⁾

• About 44% of people reaching age 65 are expected to enter a nursing home at least once in their lifetime. ⁽¹⁾ Of those who do enter a nursing home about 53% will stay for one year or more. ⁽¹⁾

Because women generally outlive men, they are more at risk!

• Yes, the issue of Long Term Care should be especially important to women because they traditionally provide (Unpaid caregiving issues) and receive the majority of Long Term Care services.

• After Age 65, women have a 50% greater chance than men of entering a nursing home ⁽¹⁾

• 75% of nursing home residents 65 years and older are female, and 2/3 of home health care recipients are female. ⁽²⁾

You Should Not Buy Long Term Care If:

• You can't afford the premiums.

• You have limited assets

• Your only source of income is a Social Security benefit or Supplemental Security Income (SSI)

• You often have trouble paying for utilities, food, medicine, or other important needs

• You are on Medicaid

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(1) "A Guide to Long Term Care Insurance", Health Insurance Association of America , 2006.

(2) "Long Term Care Insurance: Better Information Critical to Prospective Purchasers", U.S. General Accounting Office, Sept 13, 2000.