Financial Planning Services Atlanta GA, Athens GA - Alberty Financial » Elder Care Issues http://www.albertyfinancial.com Fri, 10 Sep 2010 06:07:52 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Long Term Care Insurance http://www.albertyfinancial.com/elder-care-long-term-care-strategies/long-term-care-insurance/ http://www.albertyfinancial.com/elder-care-long-term-care-strategies/long-term-care-insurance/#comments Wed, 17 Jun 2009 19:49:30 +0000 Nathan http://www.albertyfinancial.com/?p=1191 As the costs of Long Term Care increase (about 4% per year – and are projected to continue this trend into the future) is may be a good time to take a look at insurance to cover some of these costs. If one is not careful, the costs of a nursing home, assisted living, or in home assistance could widdle away retirement savings.

 
In Georgia, the average annual cost of a private nursing home is $57,365. The average for a private one bedroom in an assisted living facility is $25,200 annually and the cost of home care can range from $30,000 to over $100,000 annually depending on the need.

 
The big question when buying a Long Term Care Policy is how much time to purchase. Lifetime premiums are approximately double those of a three year program. Additionally, you can purchase a daily policy or a policy to cover a portion of the costs. There are also policies for couples that allow them to share benefits.

 
For more information please see: Kiplinger Article

 

Source: Long Term Care Insurance Costs By State

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