The following stats are posted on LTC.gov:
- someone turning age 65 today will have a 70% chance of requiring “some” long term care services and/or support in later years
- women require care on average 3.7 years
- men require care 2.2 years
- 33.3% of today’s 65 years olds may never require care
- 20% of today’s 65 year olds will require care longer than 5 years
You are likely saying, “tell me something I don’t already know” or “these statistics have been around forever.” I’ll give you that, but I grabbed your attention for what I am about to say.
Too many carriers are saying that people don’t need more than a limited duration of care. Their belief is that a policy which is limited in duration “beats the odds more often than not” and is a universal solution.
Hogwash!!!!
The right solution for any client is one that meets THEIR needs, on THEIR terms.
THEIR needs may be limited in duration or they may be unlimited. What is important is it a solution that is unique to THEM!
Using the “beat the average” story cuts both ways. Playing the short game is easy – we all can do it!
Addressing a LONG TERM CARE need that exceeds the averages by more than a few years, that is what only OneAmerica can do with guaranteed, predictable, and stable solutions like Asset Care and Annuity Care.
Fridays with Fisher 