Although most people will need some type of long-term care (LTC) in their lifetime, less than 8% of Americans have LTC coverage.1

And, did you know that women are nearly twice as likely to file a LTC claim than men?2
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LTC costs

Chart of recent annual median Long-term Care costs, including Home health aide services ($54,912), adult day care ($19,236), assisted living ($51,600), semi-private nursing home ($93,072) and private nursing home ($105,852).

Paying for LTC

It’s important to have funding in place before a LTC event occurs. You can’t depend on government programs, but there are ways you can protect yourself against the expenses of long-term care.
  • LTC coverage – there are a variety of insurance solutions (some with guarantees) to meet your needs and budget
  • Annuities – a way to save if you are not insurable
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[1] Sources: Kaiser Family Foundation – Population Distribution by Age Report for 2018 and American Association of Long Term Care Insurance – AALCTCI, 2020 Report

[2] Source: American Association for Long-term Care Insurance, AALTCI January 2019.

[3] Source: Genworth 2020 Cost of Care Report, Dec. 2, 2020.