Empower Blog

March 03, 2021

Why Do I Need Long-Term Care Insurance?

Long-term care refers to specialized care for people who suffer from illness, injury or a disabling chronic condition who need help with daily living activities, such as bathing, brushing, dressing and eating, over an extended period of time. Long-term care can be an emotionally charged topic. After all, no one wants to think about themselves or their loved ones being incapable of living on their own. That's why long-term care insurance is a critical part of planning for retirement to protect both you and your family's health, and financial peace of mind.  

Long-term care insurance helps relieve the costs associated with the specialized care necessary for these daily living activities. Unfortunately, Medicare Part A & Part B do not cover medical and non-medical services associated with long-term care. Most employer-based health insurance programs, as well as disability insurance, do not cover these services, either.


The U.S. Department of Health & Human Services predicts most adults turning 65 will need long-term care at some point during their lives. Last year, the national median costs per month for Homemaker services was $4,004; Home Health Aide $4,195; Adult Day Health Care $1,560; Assisted Living Facility $4,000; and Nursing Home Semi-Private Room $7,441.


Average Length of Long-Term Care:

Women: 3.7 years

Men: 2.2 years


These expenses can add up quickly, and most people do not have the amount of money necessary to fund continued specialized care. Long-term care insurance helps ensure a long-term care recipient’s personal care is not sacrificed due to financial constraints. Every person struggling with an illness, injury or disabling chronic condition has the right to comfort in his/her daily life.


Long-term care insurance also provides needed protection for your financial portfolio and retirement savings. Most individuals underestimate the need for long-term care services and, as a result, end up paying for care out-of-pocket. This can, and often does, cause irreparable financial strain.


Additionally, long-term care insurance can ease the burden placed on family members and caregivers. The physical demands of assisting a loved one with bathing, eating, dressing and movement/mobility every day, all day can be challenging and emotionally taxing. Long-term care insurance covers assistance from specialized professionals, so that recipients, caregivers and family members can focus on their quality time together.


If you think you’re ready to consider long-term care insurance, or just have more questions, give us a call at 913.905.8035 or email Insurance Advisor Joe Yates at [email protected]. We are here to help you create a long-term care plan that's best-suited for you and your family's needs. 

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About the Author
Professional Picture of Joe Yates
Joe Yates

Wealth Management By CommunityAmerica

Joe is an Insurance Advisor specializing in Life Insurance at the CommunityAmerica Insurance Agency.

Insurance products may be sold through CommunityAmerica Insurance Agency, LLC, a wholly owned subsidiary of CommunityAmerica CUSO One, LLC and a licensed insurance agency in Missouri and Kansas. Insurance products:

Are Not Federally Insured

Involve Investment Risk

May Lose Value

Are Not Obligations or Guaranteed by the Credit Union

Securities and advisory services offered through Copper Financial Network (Copper Financial), LLC, Member FINRA/SIPC. Copper Financial is a SEC registered investment adviser. Copper Financial is a wholly-owned subsidiary of CommunityAmerica Credit Union. Wealth Management by CommunityAmerica is a marketing name used by Copper Financial. For important disclosures from Copper Financial, including our Form CRS, please visit here. Investment and insurance products, including annuities:

Are Not Deposits

Are Not NCUA or otherwise Federally Insured

Are Not Credit Union Guaranteed

May Lose Value