Getty
Here
are two eye-popping facts: Someone turning 65 will have a nearly 70%
chance of needing long-term care in the future.
And the annual cost of a
private room in a nursing home (national median) is over $100,000 a
year, according to the recent Genworth Cost of Care Survey.
Yet only about 10% of Americans 65 and older have long-term care insurance.
If you’re 50+, should you consider buying a long-term care insurance policy, which can often cost between $2,000 and $5,000 a year?
The new episode of the Friends Talk Money podcast, hosted by personal finance experts Terry Savage, Pam Krueger and Richard Eisenburg helps answer that thorny question.
You can listen to it below or find it on all major streaming platforms and on Friendstalkmoney.org.
Long-Term Care Costs: The Financial-Planning Topic People Hate
Paying for long-term care is the “one financial planning topic most people would love to avoid,” says Savage, author of The Savage Truth on Money, on the podcast. But, she adds, “it pays to plan ahead.”We have available the pricing for these please.
Give us a call 877-480-health (4325) or email us at Info@MMinsuranceagency.com
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