Facts and Figures
“61% of respondents ranked having Alzheimer’s disease as their single greatest fear among disabling diseases in later life.”
-- Our Family, our Future: The Heart of Long Term Care Planning, Age Wave for Genworth.
2011 cost of care findings on a countrywide basis:
Nursing Home (Semi-Private Room) $193/day
-- Genworth Cost of Care Survey 2011
2011 cost of care findings on a countrywide basis:
Nursing Home (Private Room) $213/day
-- Genworth Cost of Care Survey 2011
“The U.S. Census Bureau projects that the population of 85 and over could grow to $19 million by 2050.”
-- American Association for Long-Term Care Insurance, 2011 LTCi Sourcebook, www.aaltci.org
Average age of consumers who purchase Long Term Care Insurance is 55 to 64.
“The average age at move-in of an assisted living resident is 84.6 years old. The median length of stay for assisted living is 21 months.”
-- American Association for Long-Term Care Insurance, 2011 LTCi Sourcebook, www.aaltci.org
“Every 70 seconds, someone develops Alzheimer’s disease.”
-- The 2009 Alzheimer’s Disease Facts and Figures, Alzheimer’s Association.
“5.4 million Americans are living with Alzheimer’s disease. 2/3 are women. By 2050, as many as 16 million will have the disease.”
-- American Association for Long-Term Care Insurance, 2011 LTCi Sourcebook, www.aaltci.org
Long Term Care Insurance may be deductible if you own a business or itemize your medical expenses.
2011 cost of care findings on a countrywide basis:
Home Health Aide Services (Licensed) $19/hour
-- Genworth Cost of Care Survey 2011
2011 cost of care findings on a countrywide basis:
Assisted Living Facility (1 Bedroom/Single Occupancy) $3,261/month
-- Genworth Cost of Care Survey 2011
“By 2050, 20% of America’s population will be over 65.”
-- National Council on Aging
2/3 of people over age 65 will need some kind of long term care in their lifetime.
76 million Baby Boomers were born between 1946 and 1964.
"There are 23.6 million people in the U.S. who have diabetes and over 1.6 million new cases are diagnosed every year."
-- American Diabetes Association
2011 cost of care findings on a countrywide basis:
Adult Day Health Care $60/day
-- Genworth Cost of Care Survey 2011
"The typical caregiver is a family member who is a 48 year old woman who provides more than 20 hours of care each week."
-- American Association for Long-Term Care Insurance, 2011 LTCi Sourcebook, www.aaltci.org
2011 cost of care findings on a countrywide basis:
Homemaker Services (Licensed) $18/hour
-- Genworth Cost of Care Survey 2011
Be Social!
Lois: Peace of Mind in the Hardest Times
Lois purchased Long Term Care Insurance from us in September 1999. She was 68 at that time. She wasn’t able to purchase the policy that she really wanted because she had had some issues in her health history. The insurance company limited her options and charged her 50% more than the standard rate. Ten months into her first year of owning her policy, we got a call from Lois’ sister telling us that Lois’ cancer had returned. She said that Lois had been ignoring signs and symptoms for the past five months. By the time she went to see the oncologist, the aggressive cancer was already at Stage 4. Lois declined treatment because she said that she just couldn’t go through chemo and radiation again, especially where her prospects weren’t good. Lois’ health degenerated very quickly from there. In January 2001, Lois filed a claim for benefits under her Long Term Care Insurance policy. Her claim was approved without incident. After she satisfied her 30 day deductible, her policy paid $100/day until her death six months later.