Long-term care is a part of the insurance world that is often over-looked when planning for our future needs, yet it can be a vital part of planning for your financial future.
It may be hard to imagine, but about half of us will eventually develop a disability and will require long-term care. Most will need those services for less than two years, but the financial cost of these services can be alarmingly high.
The median cost of a semi-private nursing home room is just under $90,000 a year. If you don't have insurance to cover the long-term care, the expenses will come out of your pocket. Medicaid can help, but only
after you've exhausted most of your savings.
The time to prepare is now, before you have need for the care. The solutions are varied and can be custom-made to accommodate your circumstances.