Recently Sun Life Financial Insurance Company recently did a survey measuring American attitudes towards long term care.  Results showed that people 50 and over neither made plans nor told family members their strong preference how they would like to receive care.

However about 70% Americans over 65 will need ongoing assistance with daily activities like eating, bathing, and getting dressed, but 89% of them have not planned for any long term care needs AND 50% of Americans over age 50 worry about financing for it.

There is also financial unpreparedness.  Most people in the survey failed to grasp the rising nursing home costs, projected to raise about 123% in 2030.  Full time nursing home care in the U.S. is currently averaging about $85,000 annually but may more than double in 2030.

Thus there is about 42% of the population that doesn’t even have as financial advisor to speak with and those that do have one, but avoid the subject since it was beyond their expertise and/or being a confidential issue.

This overall discomfort with aging and mortality may be the reason why many Americans haven’t planned for it.

So the question to you today is when are YOU going to start planning?  The longer you wait the higher the costs, and of course you health can change which can disqualify you from coverage. Don’t wait until it’s too late.
Call me for a free quote to see if you qualify.  There are many options that are offered today and also there are long term care riders attached to annuities AND life insurance policies that are sometimes less costly.

Jeanine Devine