What Happens If You Don’T Have Long Term Care Insurance?

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One response to “What Happens If You Don’T Have Long Term Care Insurance?”

1. 

   May 21, 2013

   Jerry Vanderzanden, CLU, ChFC

   Private long term care insurance protects your income and financial assets from being decimated as a result of long term care expenses. If you do not have this coverage, which shifts the risk to the insurance company, you retain the risk. In the event you need assistance with at least two of six of the activities of daily living, the costs can add up. Whether at home, in an assisted living facility or nursing home, the costs for care can easily exceed $250 per day with average stays of 3 years or more.