CoveredWell

Long-term Care Insurance

Protect your independence and financial security when you need care

70%

Will need LTC after age 65

2.4yr

Average care duration

$108K

Annual nursing home cost

3%

Medicare LTC coverage

Long-Term Care Insurance
The Long-term Care Reality

Long-term care refers to services that help people with chronic conditions, disabilities, or aging-related needs perform daily activities. Most people underestimate their risk and the financial impact of needing care.

The Statistics Don't Lie

  • • 70% of people over 65 will need some form of long-term care
  • • Women need care for an average of 3.7 years, men for 2.2 years
  • • 20% of people will need care for more than 5 years
  • • The average nursing home cost is $108,405 per year
  • • Home care averages $61,776 annually (40 hours/week)

What Triggers the Need for Care?

Activities of Daily Living (ADLs): Bathing, dressing, eating, mobility, continence, toileting
Cognitive Impairment: Alzheimer's, dementia, or other cognitive decline
Chronic Conditions: Stroke, arthritis, diabetes, heart disease
Accidents: Falls, injuries that limit mobility or independence

Common Care Scenarios

Mild Cognitive Decline

Duration: 2-4 years

Typical Care: Home care, adult day programs

$50,000-$150,000

Stroke Recovery

Duration: 6 months-2 years

Typical Care: Skilled nursing, rehabilitation

$75,000-$200,000

Alzheimer's Disease

Duration: 8-12 years

Typical Care: Memory care, nursing home

$300,000-$500,000

Physical Disability

Duration: 3-6 years

Typical Care: Home modifications, assistance

$100,000-$300,000

Frequently Asked Questions

Plan for Your Care, Protect Your Legacy

Don't leave your long-term care to chance. A comprehensive plan today can preserve your independence, protect your assets, and give you and your family peace of mind.