1. Long Term Care Insurance
Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.

2. LT Care covers daily living activities
Bathing
Dressing
Eating
Toileting
Transferring– e.g., bed to wheelchair

3. In 2009, the average annual cost of a private nursing home room was $80,000
Source: Kiplinger Personal Finance, March 2010 p.57
Imagine what the number might be when you are in your 80s and beyond
About 1 in 4 people turning 65 in 2010 will need at least one year of nursing home care

4. LT Care Insurance: Considerations
Monthly or Daily Benefit
Waiting Period: 30, 60, 90, 180
Where you want your care: best is everywhere– a facility or home care
Benefit Period: How many years?
Inflation adjustments
When does the policy kick in?– often when help is need with two daily activities

5. Example: 6 Year, $160 Day policy for a 59 Year Old Female
Coverage: up to $345,600 ($160 X 360 X 6 years)
Waiting or Elimination Period: 60 days
Coverage: Everywhere, home or facility
Daily benefit compounds at the CPI– consumer price index
Annual Premium: $2,447

6. Tough Questions Who needs Long Term Care Insurance?
When should you buy Long Term Care Insurance?