Strengthen your financial health with long-term care insurance.
Long-term care insurance offers a method to help pay for extended at-home, assisted living or nursing home care expenses.
As we age, many of us may need long-term care, which is covered by Medicare insurance only in the short term and under very strict conditions. In fact, almost 70% of people turning 65 will need long-term care at some point in their lives.
However, with the ever-increasing cost of nursing home and in-home care, the expense for such care could be out of reach for many Americans. Long-term care insurance can be a solution to help manage these expenses.
Assumes a 4% annual increase, which is the five-year annual inflation rate for nursing homes. This is a hypothetical illustration only.
Regardless of what level of care you may need, long-term care insurance can be a solution to help manage these expenses.
What should you consider before you purchase long-term care insurance?
Daily benefit - Amount of money you will receive from the insurance company on a daily basis for your care.
Benefit period - Length of time you will receive payments from the insurance company once you need care.
Elimination period - Number of days that you will be responsible for paying for your care before the insurance begins to pay.
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Long term care is offered through insurance companies with which Waddell & Reed, Inc., has sales arrangements.
This information is provided for informational and educational purposes only. Waddell & Reed believes the information has been obtained from sources considered to be reliable, but does not guarantee the accuracy of the information provided.