Why It’s Important to Have Long-Term Care Insurance


The cost of long-term care insurance covers nursing homes, assisted living facilities, and in-home care. Many policies also cover some homemaker services, such as meal preparation or housekeeping as long as it is in junction with the personal care services you receive.

  • National average cost for a nursing home= over $87,000/year
  • Average assisted living cost= $42,000/year

70% of Americans 65 years and older will need some type of long-term care.

The two most common reasons seniors need extended long-term care:

  1. Dementia
  2. Disability


Currently 8 million Americans own a policy. It’s important to do your homework and work with a specialist that knows the in’s and out’s of long-term care insurance and represents a variety of companies—like SFG! We advise reviewing your family health history, as well as evaluating your personal health. It’s so critical to prepare for the future ahead of time. LTC insurance is conditional and has prerequisite questions in order to qualify, so don’t wait until it’s too late.

Things to ask yourself about long-term care expenses:

  1. I don’t plan on needing long term care, but could something happen to me?
  2. If something did happen, would I have to use my life savings to pay for it?
  3. Could anything other than long term care costs involuntarily deplete my life savings and threaten my independence?
  4. Rather than risk my savings, doesn’t make sense to use some of the interest to protect my principal?

If you’d like to hear more information about long-term care insurance, give our experienced staff a call today at (865) 777-0153. We’d be more than happy to answer any of your questions and help you figure out if a long-term care policy is right for you.

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