Hahn Insurance Agency

Long Term Care Insurance in NJ

A Great Way to Pay the High Costs of Nursing Home and Home Health Care Services

Many people are becoming increasingly familiar with the high costs of caring for the elderly or infirm who need the services of a nursing home, assisted living facilities or home health care. However, not everyone knows about how a LONG TERM CARE INSURANCE POLICY can help pay for these services, so that family assets accumulated over years are protected and the financial independence of you and your loved ones is maintained.

The need for Long Term Care Insurance can be seen from a quick review of some current statistics. First, the average annual cost in the New York Metropolitan area for a one year stay in a nursing home runs approximately $50,000; and the cost of home health care can be even greater. Second, federal government programs such as Medicare cover only a small fraction of these costs. These programs may provide even less assistance in the future as the pressure to cut government spending continues. To be covered by Medicaid, you may risk losing significant personal assets. Individual or family assets today contribute to 51% of the costs of Long Term Care services. And, 1 out of every 2 Americans will need Long Term Care at some point in their lives!

Therefore, it may be well worthwhile as part of your financial planning to purchase a Long Term Care Insurance Policy for you or for your loved ones, such as parents, so that you are well prepared should the need arise. Furthermore, similar to the purchase of Life Insurance, the premiums for Long Term Care Insurance depend on the age and health of the insured, and so it pays to investigate this option sooner rather than later in life.

For more information in this very important policy, please contact our office today and we will be pleased to assist you in making the right choice!