Long-Term Care Planning
Protect your retirement from long-term care expenses with affordable, flexible options beginning at age 40.
Retirees today are living longer than ever before, which retirees should consider in their financial planning. Overlooking this key aspect of living longer may leave people unprepared for changes in their financial circumstances and may impact your investment portfolio. Planning ahead may help provide financial security, independence, help reassure loved ones, preserve your family's quality of life, while achieving better financial outcomes.
What is long-term care?
Long-term care encompasses more than nursing home care. It can also involve care provided at home, in assisted living facilities* or adult day care centers for everyday activities like dressing, bathing or feeding – or to assist those who have severe cognitive impairment as a result of Alzheimer’s disease or other conditions.
Contrary to common belief, health plans such as Medicare and Medicaid don’t cover all long-term care expenses. And Social Security or savings may not provide enough to cover unexpected long-term costs.
A short story about long-term care costs
Did you know?
46% of Americans surveyed said they or someone close to them had a personal experience of needing nursing home care.**
One in every two individuals turning age 65 today will need the coverage of a long-term care solution during their lifetime.***
Today, a healthy lifestyle and a healthy net worth both may make you more likely to live a long life. The longer you live, the better chance you have of reaching the point when you will need long-term care.
Let Lincoln help you face the future with confidence. Contact us today to learn more about long-term care planning options.
Women and Long-Term Care Planning
Women are more likely to be in long-term care, and more likely to become caregivers. This makes long-term care planning even more important for women.
Long term care risk may be greater for women
Additional Long-Term Care Planning Resources
Fundamentals of long-term care Long-term care planning 10 facts Lincoln Concierge Care Coordination
Why Americans should be discussing LTC with their families The LTC conversation LTC asset identifier worksheet
Get ready to talk about your LTC plans Four long-term care myths infographic