Walczak Associates
Long Term Care

Breakthroughs in medicine continue to result with an increase in longevity, as record numbers of people are living into their 70's, 80's, 90's and 100s. This good news is accompanied with the increasing odds of our needing long-term care. Walczak Associates, Inc. has been successful in helping individuals and groups in New York and New Jersey with their long-term care insurance needs.

What is long-term care?
Long-term care is the long-term assistance you need for a serious illness or disability that prevents you from caring for yourself. Long-term care may include services in your home, at an adult day-care center, in an assisted-living facility or in a nursing home.

What are the chances you'll need long-term care?
  • 70% of people over 65 will require some form of long-term care at some point in their lives.
  • Nearly 50% of Americans reaching age 65 are projected to spend time in a skilled nursing facility.
  • The risk of requiring long-term care is better than 1 in 5 compared with:
  • 1 in 1200 - the likelihood of a fire or accident causing a loss of $100,000 or more in your home.
  • 1 in 240- the probability of a liability suite arising from an automobile accident of $100,000 or greater.
  • 1 in 15 - the chances of a major medical health expense costing $100,000 or more.
How much does long-term care cost?
In the downstate metropolitan New York area, the average daily cost for nursing home care can range from $250-$300 per day or between $90,000-$110,000 per year.

What triggers the long-term care insurance policy to pay for benefits?
Long-term care benefits are triggered when you are certified as having a loss in one of the following areas:
  • Activities of daily living: You require help with at least 2 or more of the following activities: bathing, dressing, mobility, toileting, continance, taking medication.
  • Cognitive impairment: You require substantiated supervision for your personal safety.
What should you look for in a long-term care insurance policy?
All long-term care policies are not equal. When evaluating a policy, it is important to understand the features of the contract.

Important features of the contract to consider: We at Walczak Associates, Inc. are knowledgeable with long-term care insurance products. We're happy to help you determine your wants and needs, shop the market and assist with all required paperwork.


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