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Long-term care insurers often quote a finding that nearly 70% of people will need some sort of long-term care, along with a reference to the high annual costs of care in a skilled nursing facility ...
Explore long-term care insurance options: Long-term care insurance is one way to protect your assets while ensuring coverage for future care needs. Policies vary widely, so research options early ...
One way to cover the costs of a nursing home or stay in a similar setting is to purchase long-term care (LTC) insurance. According to AARP , most people buy LTC insurance when they are aged 55 to 65.
"Long-term care needs really start spiking in your 80s," McClanahan told me. "So long-term care is going to become a much, much bigger issue because the baby boomers are getting old quickly."
Long-term care insurance (LTC or LTCI) is an insurance product, sold in the United States, United Kingdom and Canada that helps pay for the costs associated with long-term care. Long-term care insurance covers care generally not covered by health insurance , Medicare , or Medicaid .
Almost three-quarters — 70% — of people turning 65 will need long-term care in their lifetime, according to a report by the Urban Institute and the Department of Health and Human Services.
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