Living Benefits - Life Insurance Evolution

Long-term care and medication costs are on the rise consistently, but what isn't on the rise consistently? If you guessed income and social security benefits, you guessed correctly. When one doesn't prepare for future long-term care needs, they find themselves at the mercy of family, the church, GoFundMe, etc.

Here's a breakdown of the national average costs for long-term care as reported by the US Department of Health and Human Services via https://longtermcare.acl.gov/costs-how-to-pay/costs-of-care.html.

• Nursing home care cost for semi-private room - $6,844/month
• Assisted living facility - $3,620/month
• Home health aide - $20.50/hr
• Homemaker services - $20/hr

What many do not know is that today's life insurance (not available with all carriers), including term, have an added benefit which an insured can use for long-term care needs. We are all one accident and one doctor's visit away from a life changing event. Will you be able to financially support yourself and your family if something happened to your health? Have you come across a GoFundMe page for someone who has been diagnosed with an illness like cancer? Will you and your family be subjected to the financial struggles that come with an illness or sudden disability? Will you have the resources to give yourself, your spouse, or your children the best chance of survival?

Photo Credit: National Life Group

When you fail to plan, you plan to fail. Don't fail yourself or your family. Watch the video below to see how a long-term care benefit helped a family who planned ahead.

If this article did something to your heart, let's connect so we can see if you qualify for a life insurance with living benefits (long-term care).