Long-Term Care Insurance
Hilb Group has partnered with a selection of the top-performing insurance carriers to provide you with the best possible Long Term Care Insurance coverage.
Long-Term Care Insurance In Rhode Island & Southern New England
The chances are that the day may come where you will not be able to manage on your own, and it may be difficult for you to look into the future and see a situation where you may need assistance to take care of yourself, with or without dependents.
As a general rule, people are living longer, and this means that for many, living to an age where you will need/require long-term care. This type of care includes the assistance that you would need with daily living should a chronic illness or disability not allow you to care for yourself. This care could be in your own home or a specialized facility.
You can protect yourself by investing in Long-Term Care insurance.
Why Buy Long-Term Care Insurance?
According to recent research** from the U.S. Department of Health and Human Services (ASPE), 52% of Americans who turn 65-years old today will develop a disability or chronic illness that will require long-term care. One in every seven adults will develop a disability or chronic disease that will last more than five years. The research further estimates that, on average, an adult turning 65 today will incur $138,000 in future long-term care costs.
Medicare, public insurance for older Americans, does not cover most long-term care expenses.
If you do not have insurance coverage for long-term care services, you will have to pay for it out-of-pocket.
With the above considerations, there are two reasons why people invest in long-term care insurance:
1) To Protect Savings
The cost of long-term care, without insurance, can quickly deplete your retirement nest-egg.
The cost of long-term care, without insurance, can quickly deplete your retirement nest-egg.
2) More Choices for Care
With more money available from your long-term care insurance, the better quality of care you will be able to afford.
With more money available from your long-term care insurance, the better quality of care you will be able to afford.
**Report: Long-term Services and Support for Older Americans: Risks and Financing Research Brief
