We live in an incredible age.  With the constant development of new drugs and new techniques to enhance our health, people are living significantly longer lives than ever before.  But the benefit of increased years brings with it other challenges that we must face.  Longer life means stretching the retirement dollar we first planned.  And the longer we live, the far more likely it will become that we will need help in meeting the needs of everyday life.

According to Americans for LTC Security, over 50% of all Americans will need long term care in their lifetime!  In an article in The Wall Street Journal it was observed, “For a couple turning 65, there is a 75% chance that one of them will need long term care.”  These are profound statistics, but what exactly are they referring to?  What is long term care?

Long term care is much broader than “nursing home care” and encompasses the ability of a person to perform the basic activities of daily life. It also involves who may be needed to assist with those activities and where this assistance may be given.  True, acute cases of long-term care can be given in a nursing home.  But it can also include care given in your home, care provided in an assisted living facility, adult day care and hospice care.  In fact, home care and assisted living care are far more frequently chosen than nursing home care.

There are some frightening projections for long term care needs.  In the year 2030, for example, the average annual cost for a nursing home is expected to be at least $190,000 per year, assisted living facilities -- $109,000!  The average life expectancy in a nursing home is 2.5 years.

Long term care can, and sometimes does, exhaust the accumulated assets of those individuals requiring it.  So how can a person protect themselves and their assets now against future medical and care expenditures?  With the purchase of long term care insurance!

Purchasing long term care insurance early gives you the advantage of reduced premium costs, removing the possibility of not being able to purchase the insurance due to the development of uninsurable risks in the future, and having the insurance in place if and when the need presents itself earlier than expected.

There are, however, a vast number of policies on the market, with great differences in coverage and cost.  It takes a truly qualified person, preferably a certified senior advisor (CSA), to be able to point out the differences and explain the considerations you need to make when buying long term care insurance.

Stuart Pase, of Association Health Programs, is a CSA and would be most happy to speak with you and explain the benefits and necessary riders to protect yourself and your family. He can also apprise you of the savings KCRAR members are entitled to!  KCRAR members have access to all top-rated long-term care companies at affordable association rates.

Today’s generation and future generations bear a far greater financial burden resulting from old age. Those challenges must be planned for now.  Call the KCRAR Benefits Program office for the information and protection you need regarding long-term care, life and health insurance.  Call 888-450-3040, 913-341-2868; or fax your request to: 913-341-2803; or email stuart@associationpros.com.