Long Term Health Care
There is a 70% chance that you will need some type of LTC in your Lifetime. Actuarial facts now say Men will live to 84 years old and Women will live to 86 years old. The cost of a nursing homes or institutional care today is $90,000 a year with an expected minimum of an annual 3% inflation. Men average a 3 year stay and Women 3-5 years.
Many Carriers are leaving this space because of rising costs. There are still carriers that offer traditional LTC. However the premiums are NOT static. Some offer Hybrid policies that are Life Insurance with Critical Living Benefits. There is also the use of Annuities with Living Benefits. Trinity Insurance Consultants are brokers that have access to ALL Carriers.