Protect Your Financial Security with a Long Term Care Policy

Advances in modern science have allowed an increasing life span in the United States.  In fact, we are living almost twice as long as our ancestors did 100 years ago.  However, a longer life span means a higher possibility that we may need long-term medical care.  A Long Term Care insurance policy from COUNTRY® Financial will help protect what you have should you incur long-term medical expenses.

According to the Americans for Long Term Care Security, more than half of the U.S. population will need long term care at some point during their life.  A common misconception is Medicare, supplemental policies, or standard health insurance policies will cover long-term medical expenses.  Consequently, the need to pay for long term care is often overlooked. 

Who needs long term care insurance?

The National Clearinghouse for Long Term Care Information advises that at least 70 percent of people over the age of 65 will require some long term care services at some point in their lives. One in five will need that care for five years or more. Also, more than 40 percent of people currently receiving long term care are adults 18 to 64 years old - not old enough to retire in many cases.

Long term care is expensive

According to the National Clearinghouse for Long Term Care Information  created by the U.S. Department of Health and Human Services, the 2007 average annual cost for a semiprivate room in a nursing home is $66,065 and $74,825 for a private room¹.  That breaks down to an average of $181 per day for the semiprivate room and $205 per day for the private room.  Long-term care expenses can tap individual cash assets within six months.  That’s why the coverage provided by a long term care policy can help you achieve financial security.

COUNTRY Financial has a solution

COUNTRY offers² individual Long Term Care products and a Long Term Care Accelerated Benefit rider on whole life policies.  If you are between the ages of 18 and 84, a Tax Qualified Long Term Care insurance policy offers three plans with different levels of protection.  Each is flexible and can be tailored to meet specific needs. 

• Comprehensive: Provides a wide range of benefits, including coverage for a nursing facility or home care.
• Facility Only: Provides coverage for services from a nursing facility.
• Shared Benefit: Covers expenses from a nursing facility or for home care and benefits both husband and wife.

Depending on the plan elected, benefits can be paid up in as little as 10 years or by age 65.

The Long Term Care rider can be added to your new whole life policy at the time of purchase from COUNTRY Life Insurance Company®.  This adds flexibility to your coverage.  For example, if you need help paying nursing home or other long-term care expenses, the policy’s death benefit can be withdrawn while you are living.

Safeguard what you’ve already achieved and are enjoying today

Protect you and your family’s assets by purchasing a long-term care insurance policy.  It will also give you the peace of mind knowing you will be able to stay at home as long as possible. 

For guidance in determining the right Long Term Care policy for your needs, contact me.

Learn more

• Long term care FAQs
• COUNTRY long term care solutions
• How long will you live? Find out with the COUNTRY Age Predictor.