Broker Check
13 - Common Goals Part 5 - Navigating Long-Term Care Risk

13 - Common Goals Part 5 - Navigating Long-Term Care Risk

March 31, 2023

Did you know? Almost 70% of people aged 65 will need long-term care at some point in their lives (source: With the average annual cost of nursing home care in the U.S. being $95,706 in 2020 (source:, it's crucial to be prepared. Keep these factors in mind:

Goal: Estimate how much you'll need to cover long-term care expenses with this free calculator. CLICK HERE

Risks: Be aware that the costs of care can rise faster than other living expenses.

Other People: Discuss long-term care plans with your family early on. Emotions can run high, but clear communication can help. For elderly individuals, ensure someone younger verifies that insurance premiums are being paid.

Time: Men typically need long-term care for 2.2 years, while women average 3.7 years (source: Prioritize this issue well before retirement, as waiting too long may make coverage unavailable or too expensive.

Question: Are you prepared with enough Long-Term Care Insurance?