UNDERSTANDING
LONG TERM LIFE INSURANCE
The United Nations said the average lifespan in the United States in 2019 was 78.9 years, up from 69.8 years in 1960.That figure is expected to continue to increase, reaching 83.3 years by 2050. What does that mean for us? Well, the combination of a rising life expectancy and ever-increasing medical costs means that for many, their savings and Social Security benefits may not be enough to provide for their needs as they get older, especially if they require long-term care.
According to information compiled by the US Census Bureau, 52% of people age 65 or older will need some type of long-term care services in their lifetime. More than half of those will need such care for more than a year. Without the proper coverage, many could find themselves without the resources needed to cover the cost of long-term care.
CHOOSING A LONG
TERM CARE INSURANCE
Long Term Care Insurance helps reimburse costs related to care for a chronic medical condition, a temporary or permanent disability, and non-medical expenses. Long Term Care Insurance can help pay for things that aren’t covered by traditional insurance, Medicare or Medicaid, such as home care, assisted living, nursing home care and hospice care.
Rates for Long Term Care policies generally depend on factors including the person’s age, health, the benefits they seek and the region in which they live. Policies are typically guaranteed renewable for life and can’t be canceled for health reasons.
WHAT WE DO
The Insurance Pros at Cell Brokerage specialize in providing affordable and customized insurance options and superior service to our clients. We partner with a variety of insurance providers, so you are presented with options that fit your needs (and budget).
Our Insurance Pros work with you to:
- Understand the types of coverage you need
- Match you with a reputable insurance provider
- Identify how much and what type of coverage you want/need
- Bundle your plan with other types of coverage to maximize your savings
At Cell Brokerage, our clients are people, not policies.
