by John Darer CLU ChFC CSSC RSP
Some recent statistics concerning long term care may surprise you if you are under age 65. it's not just your parents' or grandparents' issue. It's yours.
- 40% of people who need long term care are working-age adults between 18 and 64.
- By 2025, for every 100 middle aged individuals, there will be 253 seniors.
- There is a 68% probability that an individual over age 65 will become cognitively impaired or unable to complete at least two activities of daily living-including dressing, bathing or eating over his or her lifetime.
- On the aggregate, of those who enter a nursing home, 50%
will stay an average of 2.5 years; 10% will stay there five years or longer. Source: Leimberg Elder Care Law Planning/ Carol G. Einhorn January 14, 2013
Average Per Day
CT Nursing Home Private Room $400
NYC Nursing Home Private Room $370
For those needing Nursing Home Care under age 65, the percentages
Stay over over 3 years 27.6% Source: AALTCi
John Darer is a member of the American Association of Long Term Care Insurance (AALTCi) and the Society of Financial Service Professionals (SFSP) and can assist you in determining a long term care strategy. Call 203-325-8640 for more details.