Data on the length people may need long-term care was shared by the American Association for Long-Term Care Insurance. The information was reported as part of the organization's focus on Long-Term Care Awareness Month.
"We believe an educated consumer is in everyone's best interest," shares Jesse Slome, director of the long-term care insurance organization. "One of the questions we are continually asked is how long might an individual need long-term care?"
When it comes to needing care in a nursing home, some just published data provides some valuable insight. "Most people will need long-term care as a result of living a long life, into their 80s, 90s and beyond," Slome explains. "The new data projected average months of nursing home care for Californians."
According to the data, someone between the age of 80 and 95 has a 46.5% likelihood of needing care for between 1 and 12 months. "Some 24 percent will need care for between 13 and 24 months, and 29.4 percent will need care for 25 months or longer," Slome adds.
"There's no way to predict what an individual man or woman will need," Slome admits. "But after years talking to consumers and professionals, here's what I do know for sure; some long-term care insurance is always going to be better than none. It will give you and your family more options when you want and need them most."
Slome addressed a concern from consumers considering shorter-term long-term care insurance protection. "First of all most policies provide what I call a pool of dollars," Slome explains. "You have benefits as long as there are dollars remaining so it's not a specific timeframe of when benefits end. Secondly, most people have other income and assets that they can use to pay some of the cost of care with insurance also paying some."
The Association posts relevant long-term care insurance statistics and latest data on the organization's website.
The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions. To obtain long-term care insurance costs from a long-term care insurance specialist call the organization at 818-597-3227 or visit their website www.aaltci.org.
Jesse Slome is director of the American Association for Long-Term Care Insurance. He also directs the American Association for Critical Illness Insurance and the American Association for Medicare Supplement Insurance. To find local Medicare insurance agents utilize the organization's free online directory.