Make Use of LTC Statistics and Save Money
Long term care (LTC) may be needed if and when you or a loved one has a disability or chronic illness that affects basic daily needs and activities. LTC can take place at home, in assisted living facilities, or nursing homes.
If the people in your life -- friends, family members, co-workers -- are busily purchasing LTC insurance policies these days, you need to know that there's a reason for the extra attention.
According to one report, about 10 million Americans required LTC in 2000 and most but not quite all of them were elderly at age 65 and older. Many long term care reviews available to the public reflect such statistics and that's good news for you.
In order to receive accurate information about LTC insurance, make sure any review you read contains data provided by either a government agency or a reputable insurance company; otherwise you may not be getting a correct picture of the current situation.
Another tidbit revealed in a study by the AARP titled, A Report to the Nation on Independent Living and Disability, is that the likelihood of becoming disabled or cognitively impaired in a person's lifetime is 68% for people aged 65 and older.
Here's some other information that long term care reviews can provide. By 2050, it's estimated that the number of people who need LTC services will likely double. In 2005, there were about 5 million people over 85 in America and that number is expected to increase to 19.4 million by 2050.
Currently, it's estimated that 52 million informal and family caregivers provide services to someone who is chronically ill or disabled. It's also believed that in the year 2007, the number of caregiving households in the U.S. for people over 50 reached 39 million.
That's a lot of data to wade through, and that's not even the tip of the iceberg. Reading long term care reviews can help you make sense of the numbers when it comes time to consider LTC for you or for an aging family member.
If you believe that Medicare will help pay for the costs of LTC, think again! Government insurance for the elderly and infirm is severely limited in what it can provide. That leaves only personal bank accounts to cover the difference, unless you act now and buy an LTC policy.
Remember to get your freelong term care quote today by filling out the form in the right column! Using long term care reviews can help make sure your nest egg is left intact.
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