Living with a health condition, such as Multiple Sclerosis, does not prevent you from protecting your life savings from the high cost of long term care.
While there are many technical definitions, long term care is basically the help we need to get through the day. It is help that is required for an extended period of time; months and even years. It can include the need for skilled medical care, but, more often; it involves help with your daily activities such as walking, toileting, bathing, eating and dressing.
It might surprise you to know that over 40% of the people receiving Long Term Care in this country are under the age of 65.(1) Americans are spending $140 billion each year in formal long term care.(2)
Today, the national average cost of a private room in a nursing home is $213 a day or $77,745 a year. (3) This cost will only continue to rise from year to year. We are presently experiencing the aging of our society, but in addition, we continue to be faced with the day-to-day disabilities that affect people of all ages.
The rate of disabilities in people of working age is on the rise.(4)
Penn Treaty Network America Insurance Company(SM) offers long term care insurance to individuals who have Multiple Sclerosis, and are completely capable of performing all of their activities of daily living independently such as Bathing, Dressing, Eating, Toileting, Transferring or Continence.
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- Each year you wait to purchase long term care insurance not only increases the annual cost of protection, but is another year you are not protected.
- Each year you wait to purchase long term care insurance, puts you at risk for not being medically able to qualify for coverage.
- Whatever your age, your premium for one year will always be less than the cost of a single year in a nursing home.
- Spousal discounts apply if your spouse is also approved for a
long-term care insurance policy.
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Now is the Time to Purchase Long Term Care Insurance! |
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1. Source:
U.S. Office of Personnel Management (OPM),
The Federal Long Term Care Insurance Program, www.ltcfeds.com, January 29, 2006
2. Source: The Long Term Care Financing Model, by Lisa Alecxih, The Lewin Group, December 5, 2006.
www.aoa.gov-summit-main_site.
3. Source: The MetLife Market Survey of Nursing Home and Assisted Living Costs, MetLife Mature Market
Institute, October 2007, page 4 of 9.
4. Source: The Journal of Physical Education, Recreation and Dance. August 1, 2004
LTCMS REV.7/08 |
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