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LTC/STC & HOME HEALTHCARE

While costs for nursing home care vary widely, they average about $4,500+ a month. This can cost approximately $70,000 to $90,000 a year. A study by the U.S. Department of Health and Human Services says that people who reach age 65 have a 70 percent chance of needing some form of care. About 10 percent of the people who enter a nursing home will stay there five years or more. Long Term Care Insurance can help protect senior’s estates from these catastrophic costs.

LTC insurance can also help seniors with peace of mind knowing they will not be a burden to their kids and instead maintain their independence.

STC insurance works like Long Term Care but is limited to one year of benefits, STC costs less and is easier to qualify for. So it can be a good alternative. After all, every claim uses at least a portion of the first year.