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What is LTC Insurance
Why Long-Term Care
Cost of LTC Insurance
Misconceptions
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Surveying hundreds of clients, we consistently hear the following 10 concerns.
  • I want to “ avoid” going to a nursing home if at all possible.
  • I want to receive care “ in my own home”.
  • I want to “ protect” my life savings and assets.
  • I want to “ retain” my future choices, and not have anyone make choices for me.
  • I want to remain “ independent”, and do what I want, when I want.
  • I want my family to be with me because they “ want to” not because they “ have to”.
  • Legally “ hiding” assets will lead to welfare and a lack of personal choice.
  • I want “ peace of mind”, knowing I’m protected from the greatest risk I face.
  • I don’t want to be a “ burden” on my spouse, kids, or loved ones.
  • I didn’t know that Massachusetts law “ protects my home” if I own a LTC policy.
In making an educated decision, first one needs to know the facts.
  • At 65 years old, 43% of people will need some type of LTC.
  • 40 % of people who currently need LTC are of working age (18-65)
  • Because health doesn’t get better as we age, at 80 years old 50% will need LTC.
  • Medicare, health insurance, nor social security, will pay for custodial LTC.
  • The “average stay” in a nursing home in Massachusetts is almost 3 years.
  • The “average” cost of a Massachusetts nursing home is $106,000.00 year
  • The “average” assisted living facility in Massachusetts is $4,500.00 per month.
  • The “average” cost of homecare in Massachusetts is $38.00 per hour.
  • The chances of using your homeowners insurance is 1/1200
  • The chances of using your car insurance is 1/240
  • The chances of a $30,000.00 hospital stay is 1/15
  • The chance of needing long-term care is 1/2 for women & 1/3 for men.
The “graying” of America
If you are 55 or older, then you are a part of the fastest growing segment of the population. Given the fact that medical technology, new prescription medications, and additional information about how to take better care of ourselves, we are living much longer than previous generations. What about the “quality” of life? Statistics show that we can expect to “live” into our late 70’s. Those same statistics show however that we will only remain “healthy” into our late 60’s. Therein lyes the problem. What do we do when we become sick, injured, or frail due to the natural ageing process, and must live with it?

“Reality Check”
People consider LTCI for the reasons stated above and more. However, the first step in solving a problem is recognizing that we have one. “Denial” and “miss-information” are the two most common reasons that people don’t investigate long-term care insurance. Denial, meaning that “it wont happen to me”, or misinformation from friends, relatives, and even a small number of legal and financial professionals, who wrongly think that the cost of protection is prohibitive. Although no one likes to think about the consequences of becoming sick, injured, or older, we have found that it is much better to be prepared, than to be forced to deal with a crisis when it happens.

Protecting Tomorrow’s independence …Today




Sweeney & Associates 781.924.1637 info@longtermcareprotection.com

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