AAA Long-Term Care Insurance

Risk of Needing Long-Term Care

Let’s Compare the Risk

According to the National Clearinghouse for Long-Term Care Information, a person’s lifetime risk of needing long-term care services in their lifetime is 1 out of 2; that’s a 50% risk. As age increases, so does the likelihood of needing long-term care. Recent research suggests that most Americans turning age 65 will need long-term care services at some point in their lives.¹ Remember that long-term care is something you may need before 65 years of age; about 50% of people who currently need long-term care services are under the age of 65.²

Let’s compare the risk:

Automobile accident 1 out of 240 [0.4%] ³
Fire damaging your home 1 out of 1,200 [0.08%] ³
Missing 90 days of work due to a disability is just under 1 in 3 [33%] ⁴
Needing long term care assistance in your lifetime 1 out of 2 [50%] ³

Factors That Increase Your Risk of Needing Long-Term Care

There are factors that increase your risk of needing long-term care, which include:

Family History — of chronic conditions or illness, for example Alzheimer’s, stroke or arthritis
Age — the older you get, the more likely it is that you’ll need care
Gender — women generally live longer than men, increasing their risk of needing care
Living Situation — if you live alone and don’t have the “built-in caregiver”
Lifestyle — poor diet and exercise habits
Personal History — your personal health history and risk factors

When you consider the odds of facing a long-term care situation, it’s easy to realize that this is something that you should plan for. Improvements in medical technology have dramatically increased the life expectancy of our population, prolonging the lives of many and increasing the number who may require long-term care.

LTC Statistics

About 50% of people who need long-term care services are under 65 years of age.[1]

At least 70% of people over 65 will need long-term care services at some point.[2]

Why LTCI?

Family –The last thing most people want is to become a burden to their family.

Home –Most people prefer to get the care they need in the comfort of their own home.

Nest Egg – They don’t want to risk spending the assets they’ve worked a lifetime to accumulate to pay for LTC services.

Why GoldenCare?

Our Long-Term Care Specialists work one-on-one to educate you on all of your coverage options and to help guide you in your LTC planning. All of our products are hand-selected from top-rated carriers in the Long-Term Care insurance industry.

At GoldenCare, as Specialists in Long-Term Care for nearly 40 years, we offer you the best coverage options at the lowest cost possible with the highest level of expertise.

SOURCES:

* Nationwide Retirement Institute, “Americans Worry More Now About Their Long-Term Care Plans and Prioritize Staying At Home,” Advisor Magazine, Feb 2021, https://www.lifehealth.com/americans-worry-now-long-term-care-plans-prioritize-staying-home/

1 U.S. Department of Health & Human Services. “Who Needs Care” Accessed March 2021: https://acl.gov/ltc/basic-needs/who-needs-care
2 Kaiser Commission on Medicaid Facts. “Medicaid and the Uninsured”. June 2012.
3 Hayes, Robert D., Nancy G. Boyd, and Kenneth W. Hollman. “What Attorneys Should Know About Long-Term Care Insurance”. 1999. The Elder Law Journal, Vol. 7, No. 1.
4 America’s Health Insurance Plans (AHIP). Baby Boomer Awareness of Disability Risk Study. 2008.

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