If you resist the idea of conventional long-term care insurance thinking that you won’t need it, you’re not alone. Many people do. It’s important to realize that if you decide that you’ll pay out of pocket “if it happens,” you are essentially choosing to “self-insure.”

 

And long-term care doesn’t come cheap. Consider these sobering facts:

 

• Seven out of ten Americans who reach age 65 will need some form of long-term care during their lifetime.

 

• The average person requires long-term care for three years. Costs can easily reach $100,000 per year. (Median annual cost for private room in nursing home, $102,200, Genworth, 2019 Cost of Care).

 

• Of those who enter the nursing home, two thirds of married people and half of single people are bankrupt within 13 weeks.

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Fortunately, Kimbrough Law offers a way to address the long-term care cost conundrum.  Our life insurance-based and annuity-based long-term care financing products give you a new way to plan ahead for the unpredictable costs of long-term care.