Quick Long Term Care Facts

Women live longer than men.  As a result, women are more likely to reach an age where they will be without a spouse and require long term care.

Over two-thirds (67.5%) of LTC insurance individual claim dollars are paid to women.

These statistics point to the fact that women really need to buy long term care insurance.  It is well known that women are usually the caregivers for a spouse, friend or loved one when they have a chronic illness.  This creates stress and physical hardship to the caregiver if the person receiving care is totally dependent on them.  Often, the caregiver ends up needing care as well.

For more information, contact Alta Vista Benefits today.


Long Term Care Real Life Examples

The following are examples of how long term care/extended care coverage helped protect people and the family's assets while covering the cost of care for several years:

Famale purchased a policy at age 43:

  • Annual premium of $1,800
  • Claim began three years later and has continued for 12 years
  • $1.2 million in benefits paid

Male purchased a 5-year policy at age 54:

  • Annual premium of $2,560
  • Claim began two years later and has continued for nearly 7 years
  • $690,000 paid in benefits

These stories emphasize the real life financial impact on two families.  What it does not measure is the physical and emotional impact on the family of someone needing extended care or long term care. The greatest benefit of long term care insurance is to allow loved ones to care about you, instead of having to care for you.


Extended Care as an Employee Benefit

With all of the changes surrounding Health Care Reform, many employers are dropping spousal coverage, changing plans to reduce costs, or simply eliminating health insurance from their employee benefits. As a way to offer a benefit and stay competitive, many employers are considering long term care/extended care as an employee benefit. The need for this care is about 70%, so the likelihood of using the coverage is high. The cost of not having the coverage is also high. This is a great way to protect employees and their families. Chances are, they will use the benefit and will be grateful that the employer offered the coverage. For more information, contact lucy@altavistaben.com.

Do you think you might need long term care?

What is Long Term Care?  It is extended care called custodial or non-medical care.  It is not paid for through health insurance because it is care that you need to live your life on a daily basis and not care provided by a medical professional.  You can require this care for a long time after a medical condition, injury or accident has been treated and you have been released from a doctor's care.

No one wants to think about whether they might need long term care. You also don't think about your house burning down, but you will spend the money to make sure you are protected. The chances of needing long term care are 4 – 6 times greater than the chance your house will burn down.  Doesn't it make sense to put a plan in place since this is not covered by health insurance.  Otherwise, how will you pay for it?


Alta Vista Benefits, LLC launches a new web site

Alta Vista Benefits just launched a new web site to address issues around extended care or long term care. Many people are unaware that health insurance does not address the need for extended care. It is also not well known that it is really important to have a plan for long term care. Why not be in charge of this issue and have that important discussion with Alta Vista Benefits? You can reach us at 614-889-0934.

Can’t find your agent.

I have had a lot of calls recently from people saying “I can’t find my agent” or “My agent won’t return my calls”. Alta Vista Benefits, LLC is waiting for your call. Our response is generally within 2 hours and at the latest 24 hours from your message.

Alta Vista Benefits  |  6775 McVey Blvd. Columbus, OH 43235-2821  |  O: 614-889-0934  |  F: 614-559-6776  |  E-mail: lucy@altavistaben.com  |  © 2014 All rights reserved