Are those who do not buy long term care insurance psychic?

Aging is inevitable and longevity is an unforeseen circumstance, so no one really knows how long we are going to live. With the crisis on aging, there is a greater risk that we will be needing long-term care at one point in our lives. We often ignore this issue and hoped that we will stay healthy and will not be needing ltc services for the rest of our lives so we would have something – perhaps an amount of money to family. But what if the need arrives sooner that we expected? Are we prepared for the consequences – financial and emotional devastation? There is no use saving all those money if we will end up drained by paying care out of pocket. The cost of long-term care can deplete a modest amount of savings or even your lifetime savings. So be sure to plan early and wisely, consider long-term care insurance as a secure back up plan.

Guide to Long-Term Care blog

People who do not buy long term care insurance must be psychic because they act with the certainty of knowing in the future “it won’t happen to them.”

What do you want your lifestyle be like when you are elderly and need care?
Are you deciding the fate of your estate based on facts or wishfull thinking?

Nursing home

When asked where do they want their “estate” assets to go to people almost always say to their heirs.  But the reality they are ignoring is that 90% of estates will be spent in this order*:
1. Nursing home
2. IRS
3. Children
4. Grandchildren
5. Charity

Even in light of the above probability for their estate plus the fact that the US DHHS (Medicare/Medicaid) statistics show that 70% of us will need long term care, and insurance claims show that 72% of women will need care, people are still clinging to the idea that they do not need insurance. Have you ever seen…

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