A recent article “Do You Need Long Term Care Insurance” about long-term care cited a staggering statistic; By 2020, 12 million older Americans will need long-term care.  With those kind of statistics, it is safe to assume that you or a loved one will require long-term care at some point in your respective lifetimes.  The need for long-term care may be brought on by the effects of a debilitating disease, injury, or simply by the natural aging process, but one thing remains consistent - you need to plan for long-term care sooner than later.

Cost of Care
But how much does long-term care cost? Unfortunately, the cost of care among facility-based providers has steadily increased in recent years.  Americans are paying approximately $17,520 more per year today for a nursing home than they had to pay in 2005.

Cost of Long-Term Care Insurance
The cost of care and the cost of long-term care insurance (LTCI) are rising in lockstep. This makes financial planning for long-term care of grave importance for most families. Without a plan in place, the enormous financial and emotional toll can prove devastating...more

Related Article: Cost of Care Map