How much long term care insurance do I need?

Long-term care insurance is not a one-size fits all type of policy

You should purchase the amount of long term care insurance that’s right for you.

When thinking about your long-term care insurance policy options, it is important to take the following into consideration:

Level of your personal assets you wish to protect  Long term care insurance should be a factor in your overall retirement planning. Because needs, resources and personal situations differ, our long term care insurance advisors will guide you through your long term care options and help you select the coverage that’s right for you.

Current cost of care of where you live or plan to retire
Whether you plan to move to a warmer climate or closer to your family, the cost of care varies by state and by region. Where you retire is an important factor in determining the amount of long term care insurance coverage you will need. Our Long Term Care Cost of Care Map helps you estimate your needs.

Length of time you’d like to be covered  Generally, studies show that people need long term care assistance for an average of three years. Still, you will want to take into account your health as well as any family history of prolonged illness such as Alzheimer's or Parkinson's disease that may require you to need care for a longer period of time

Inflation protection that will help your long term care insurance benefits keep up with the rising cost of care. Even your most proactive financial plan will fail if your plan does not account for inflation in estimating your future long term care needs.

That’s why LTC Partner works with all of the best long term care insurance companies.  Different companies offer different policy options, and the solution that is right for you may be different than the solution that is right for your next-door neighbor. LTC Partner recognizes that with long term care planning there are not necessarily any right or wrong choices. We will help you custom tailor your LTC insurance policy according to your specific needs and find the best long term care insurance company and the right policy for you. 

You should consider your retirement income, your level of retirement assets, as well as the living needs of a spouse or partner when determining the right size of a policy for you.  Also, it is important that your long term care insurance premium fit within your retirement budget and your premium does not affect your retirement lifestyle.

To discuss your long term care insurance coverage options with a long term care planning specialist please call LTC Partner toll free at 1-800-891-5824.

Or you may send us a message through our website.  Thank you.  We look forward to helping you plan for your long term care needs.