Extended Care
Planning for the future isn’t just about retirement income—it’s also about protecting yourself and your family from the high costs of long-term care. As Americans live longer, the need for extended care services is growing. In fact, according to the U.S. Department of Health and Human Services, nearly 70% of people who reach age 65 will require some form of long-term care during their lifetime.
Benefits
Helps cover the cost of long-term care services not covered by Medicare or health insurance
Gives you flexibility to receive care at home, in assisted living, or in a nursing facility
Protects your savings and retirement funds from being drained by extended care needs
Reduces the financial and caregiving burden placed on your loved ones
Why Planning Ahead Matters
The Rising Cost of Extended Care
The costs of long-term care can be staggering.
Semi-private nursing home room: Over $110,000 per year
Home health aide: Over $80,000 per year
These costs can quickly deplete savings, strain retirement funds, and place a financial burden on family members. Without proper insurance, long-term care expenses can jeopardize both your financial security and your family’s well-being.
Long-term care often extends over several years. Data from the Administration for Community Living (ACL) indicates that:
Average duration of care: 3 years
Women: 3.7 years
Men: 2.2 years
Over time, the cumulative costs can easily exceed hundreds of thousands of dollars, making early planning essential.
The Duration of Care Matters
Long-term care insurance safeguards your assets and independence by covering expenses that regular health insurance and Medicare often do not. It also provides flexibility in choosing where and how you receive care—whether at home, in an assisted living facility, or in a nursing home.
By planning ahead and securing coverage, you can:
Protect your savings and retirement funds
Preserve your quality of life
Ensure the cost of care doesn’t become a burden on your loved ones
How Long-Term Insurance Helps
High Likelihood of Needing Care
Nearly 70% of Americans who reach age 65 will require some form of long-term care during their lifetime. Planning ahead helps protect your finances and provides peace of mind for you and your family.
KEY REASONS TO HAVE LONG-TERM CARE INSURANCE
Rising Cost of Care
The average annual expense exceeds $110,000 for a nursing home room and $80,000 for in-home care, costs that can quickly deplete retirement savings without proper coverage.
Extended Duration of Care
On average, individuals require long-term care for about three years, with women typically needing care for a longer period than men—making early planning especially important.
Get Personalized Extended Care Guidance
Planning for extended care can protect your savings and give your family peace of mind. We’ll help you choose coverage that supports you through recovery and beyond.