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How can you help ease the burden of nursing home care on your dependents?
Nursing home care is expensive. As a national average, a year in a nursing home is estimated to cost $153 per day ($55,845 per year). In some areas, it can easily cost significantly more. Home care may be less expensive, but it adds up. Brining an aide into the home three times a week (two to three hours per visit) to help with activities of daily living can easily cost $1,000 per month. The costs for skilled help - nurses, therapists and medical social workers - can increase the costs considerable.
The Role of Life Insurance
Be prepared for uncertainties including the possibility of needing long-term care and consider life insurance coverage linked with long-term care benefits to meet your needs. With a rider that accelerates the death benefit to pay for covered long-term care expenses.
Consider the following products from Lincoln Life to supplement your plan. For more information, please visit www.moneyguard.com.
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Lincoln MoneyGuard
® UL Series
LM0112-0484
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