Long-Term Care Insurance  Statistics show that 60% of people over the age of 65 will require some sort of Long-Term Care for treatment of a prolonged physical illness, disability or cognitive impairment, such as Alzheimer’s disease or dementia. Unfortunately Medicare is not designed to cover these types of long-term care expenses. Long-term care — whether it’s in a nursing home, assisted living facility or even in your own home, is overwhelmingly expensive. Without careful planning, you may exhaust your assets trying to pay the bills. Consider the Cost In the Phoenix area, the average cost for a year’s stay in a nursing home is $81,030 ($222 per day), and assisted living costs are over $3,000 per month according to the Metlife Mature Market Institute. These figures are expected to almost triple over the next 20 years. Long-term care insurance is available to help you conserve your hard-earned savings should you require:
Long-term-care policy premiums are partly based on your age when you sign up. You’re covered as long as you maintain your policy, regardless of changes in your health and advancing age. Since younger people are less likely to incur long-term care expenses, the premiums can be much lower if you secure your policy in your 50’s or 60’s. We offer a variety of long-term care insurance options, and we can help you determine which plan is the best fit for your individual circumstances. About GCPA At Grand Canyon Planning Associates, LLC (GCPA), we provide caring and personalized attention to your needs. We have been helping Arizona residents just like you with their retirement and estate planning for over 15 years. Let our family help your family. Click here to send an e-mail requesting more information, or call 480-991-1055. Grand Canyon Planning Associates, LLC works with several major providers to offer you a variety of insurance solutions. These are just a few:
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