Nearly 63% of Americans above the age of 65 require long-term care. If your savings were to bear its costs, you would have to shell out an average of $140,000 per annum. Such an expense can cause a significant financial drain.
Long-term care(LTC) insurance can help you prepare for all such future needs, like assisted living, in-home care, or nursing home costs. However, only a small number of Americans are covered because there are many myths about the coverage.
Let’s bust a few myths about long-term care insurance to understand it better:
These life changes mean it’s time to review your life insurance coverage.
Just because you have secured life insurance doesn’t necessarily mean that you have all the coverage that you need. To maximize your coverage, you need to regularly review and update your policy. Here are some of the life changes that signal it’s time for a life insurance update.
You Are Getting Married
If you have life insurance and are getting married in the near future, then you need to review and update your policy to ensure that […]
Why stay-at-home parents also need life insurance.
When parents think about securing life insurance, many assume that only the family breadwinner needs coverage. However, this overlooks all the value that stay-at-home parents provide for their families. Here are some of the many reasons why stay-at-home parents need life insurance too.
To Cover All the Services They Provide
Just because stay-at-home parents do not bring home a paycheck doesn’t mean that they don’t contribute. Stay-at-home parents wear many hats […]