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6 min read

Long-Term Care Insurance: When to Buy It & More

By Coventry on 4/21/23 10:00 AM

For many seniors, long-term care (LTC) insurance—an insurance policy that helps pay for chronic medical care—can be a worthwhile choice. After all, nearly 70% of seniors aged 65 or older will require some form of long-term care in their lifetime—a service that can be prohibitively expensive, setting families back thousands of dollars a month.

But is long-term care insurance worth it? This policy tends to come at a steep price: in the U.S., for example, the average 55-year-old man pays an annual premium of $2,220. And thanks to insurance marketing tactics, potential buyers often believe that they’ll spend years in a nursing facility—which isn’t always the case.

Topics: Long-Term Care Financial Planning Extended Care Planning in Advance Long-Term Care Insurance Insurance
6 min read

Paying for Long-Term Care: Know Your Options

By Coventry on 12/22/22 10:32 AM

The decision to move yourself or a loved one into long-term care can be a difficult one, and determining how to pay for long-term care can add unnecessary stress to a phase of life that’s already full of transitions. Understanding the costs you may encounter and developing a proactive plan to afford long-term care can help ease the burdens that accompany it.

Topics: Long-Term Care Extended Care Limited Care Limited & Extended Care Planning Center

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