The average cost of long term care (LTC) looms right at $8,000.00 per month and is growing at an annual rate of 4% compound interest.
Based on historical data, claims, and current costs, and future predictors such as the aging population, the number of baby-boomers turning 65, and the mortality and morbidity tables, Medicare says 7-10 people over 65 will need LTC.
If you are in fact one of the few Americans that can afford to pay for your long term care, WHY would you ever? If you can afford to pay $8,000.00 per month in today's dollars, then you can certainly afford a hundred or so dollars per month so you wouldn't have to.
Additionally, many long term care premiums are tax deductible.
Covering yourself is just NOT a very good business decision.
Call me today to start a discussion.
AJ Reiber
Bankers Life
317-652-1717
antolin.reiber@bankers.com
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