New long term care insurance quote

It's no secret that medical expenses are, well ... expensive, consider the cost of long term care insurance. Take a casual glance at what healthcare services cost, and you quickly get a sobering picture of the rapidly rising costs. Before you speak with a representative about getting a new long term care insurance quote, take a moment to contemplate a few statistics.

Let's start with one of the least painful options - homemaker services. The average licensed (non-certified) homemaker service charges between $17 and $18 per hour. Costs rise sharply when the consumer employs the services of a certified home health aide; this service typically goes for more than $32 per hour for in-home, long term care (life insurance/LTC combos can help the consumer offset some of the costs for private healthcare services).

It gets worse from there. Nationally, the average cost for one bedroom in an assisted living facility is more than $32,500
annually, or more than $2,700 per month. In some areas of the Northeast, the annual cost now approaches $60,000. (These figures don't take into account the entrance fees charged by some facilities. The one-time fee averages more than $1,600 nationwide.) But the cost king is still nursing homes, which charge, on average, more than twice the amount charged by assisted living facilities. And by some estimates, rates consistently increase by 4 to 5 percent each year. So, it pays - literally - to periodically get a new long term care insurance quote to make sure your coverage is keeping pace with rising costs.

Complete long term care life insurance

Let's talk more about that death benefits option we addressed earlier. In the event that you require lengthy healthcare, this option allows you to take money from death benefits, tax free, and bestow the remainder to beneficiaries upon death. That means that if you require $30,000 in healthcare services before death, the remaining $70,000 of a $100,000 policy would go to the beneficiaries. Contact a Complete LTC representative for more information about how to put a long term care life insurance combination to work for you when you need it most.