How much Long-Term Care Insurance do I need?

Hi, I’m Narima, here at Petschauer Insurance. Welcome to part three of our four-part long-term care video series. Today, we talk about how much long-term-care benefit you need and what is the best time for you to purchase.

The cost of long-term care can be catastrophic to your family. How much insurance do you need is determined by the cost of care and your budget. This cost depends on where you live and the level of care you need. Whether it’s a home health aide or around-the-clock care at a skilled nursing facility. For example, today, an average four-year stay at a nursing home in the New York City area would cost about $640,000.

So, depending on your budget and the other assets you have to pay for care, we can tailor a policy that covers these expenses. We can also include an inflation rider that would increase your benefit every year to cover the ever-increasing cost of care. A long-term care event can happen at any age. The most economical time to purchase this insurance is now!

The cost of long-term care insurance is determined by your age and your current health status. A healthy 45-year-old purchasing long-term care will enjoy lower rates than a 65-year-old with health conditions. You’re never too young to plan for a long-term care event. So, contact us today for guidance and how much insurance is best for you. And stay tuned for part four in our series when we discuss the various long-term care products. Thank you for watching.

Call Petschauer Insurance in Garden City NY at (516) 419 5050

Watch Video 2 of our series – CLICK HERE
Watch Video 4 of our series – CLICK HERE