Long Term Care

When your clients contact you to discuss Long-Term Care Insurance (LTCI), you can offer them the security they are looking for by partnering with Star Lite Brokerage! Nobody wants to think about spending his or her retirement years in a nursing home. Nevertheless, it is something everyone needs to think about. The fact is that long-term care of any kind (a nursing home, assisted-living facility or even remaining cared for in there own home) is expensive. Without careful planning, your clients assets can become exhausted just trying to cover the cost.

The average cost for one year’s stay in a nursing home is $75,190 ($206 per day according to the Metlife Mature Market Institute). In some areas it can be much more than that. In Stamford, Ct., for example, the average cost is $125,560 ($344 per day). These figures are expected to almost triple over the next 20 years (assuming a 5% rate of inflation in long-term-care costs).

Over the next 10 years, as life expectancy continues to increase in the United States, the Federal Government predicts that there will be 6.4 million baby boomers age 65 and older that will require more and more services. It is predicted that 50% of Americans over the age of 85 will require full-time care or some type of assistance with their daily living.

Most people think of Long-Term care only with respect to the elderly. Remind your clients that accidents and illness can strike a person of any age, forcing them to seek out long-term care.  Star Lite Brokerage works with you to meet the needs of every individual needing LTC services.

Long-Term Care Insurance can help prevent financial disaster for caregivers who must provide for the elderly and disabled until their assets are depleted and Medicaid steps in. It can provide for adult day care centers, home health care, assisted living, and retirement community expenses – again allowing maximum independence for the beneficiary.  We help you provide your clients with a cushion against the unexpected and a safety net against the natural process of aging.

A recent U.S. Department of Health and Human Services study found that people over the age of 65 have a 40% chance of needing a nursing home. Of those who enter a nursing home, 10% will stay there for 5 or more years.

 In this era of two-income families, the traditional elder care givers are busy working outside the home and no longer able to participate in the daily care of aging relatives. Even those who undertake this task find themselves overwhelmed and in need of a respite. More and more, society is called upon to provide the resources to care for this growing segment of society.

The smart financial solution for your clients lies in long-term-care (LTC) insurance. Long-term-care policies charge a fixed monthly premium. As long as premiums are paid, they remain covered regardless of changes in health. The premiums are much lower if your clients buy the policy at a relatively young age (late 50s to early 60s), since younger people are unlikely to incur long-term-care expenses anytime soon.

Star Lite Brokerage has the expertise to guide you in exploring the ever growing LTC market for all your clients.  Long Term Care insurance is becoming a necessity, rather than an ‘option’, for individuals who recognize that longevity presents a new set of challenges for care givers, the aging, and their families.

Let our experts guide you to the products that will meet the needs of your clientele.   Partnering with Star Lite Brokerage, you will be able to offer your clients future independence, security, and peace of mind.  Knowing that their life savings will not be depleted by the financial burden of long-term care, your customers will thank you for years to come.

Federal and State agencies are now recognizing the importance, and the ‘necessity’, for individuals to purchase their own LTC insurance policies as the ever burdened Medicaid and Welfare systems are increasingly strained.