Do I Really Need Long-Term Care Insurance?

If you have financial assets to protect you should definitely consider purchasing long-term care insurance. The reason why it’s important to consider investing in a long-term care insurance policy is that it can safeguard your investments and savings from being depleted due to the expense of a long-term care. A lifetime of savings can be wiped out in a fairly short period of time for nursing home care.

What Does Nursing Care Cost in Ohio?

According to a study completed by Genworth Financial the annual median cost for a stay in a nursing care facility for private room is $76,650 per year. A semi private room runs about $69,350 per year. If you were to hire a homemaker service, or a home health aide, that might cost as much as $41,367 per year. A lifetime of savings could be depleted in just a few years.

Long-term care insurance is a means to safeguard your assets that you may need to use to live on in later years. Long-term care insurance is a method to transfer the risk to the insurance company much in the same way that you transfer risk to the insurance company on your home or cars that you own.Without long-term care insurance or substantial financial assets, a loved one will not be able to afford to stay in the best nursing homes in Cincinnati.

What Long Term Care Insurance Company in Cincinnati Is Best?

There are a number of insurance companies offering long-term care insurance in Ohio and it’s best to work with an independent insurance agency that is not restricted in offering long-term care insurance from only one company.

Call 513-662-7000 to Receive a Long Term Care Insurance Quote in Cincinnati.