Financial Risk To Retirement

**FINANCIAL CONSIDERATION: Overlooking the potential need for long-term care could significantly impact your financial security in retirement.**

One of the most substantial financial threats to your retirement may arise from the possibility of you or your spouse requiring long-term care.

Long-term care encompasses the support needed for daily living activities, which can be provided in various settings, including at home, in an assisted living facility, an adult day care center, or a nursing home. It’s important to note that Medicare and many private insurance policies do not cover this type of risk. The expenses associated with long-term care can be staggering. Here are some key facts to reflect on:

♦ The likelihood of a long-term care claim exceeding $100,000 is approximately 1 in 1.5.*

♦ An estimated 70% of individuals over the age of 65 will require some form of long-term care.**

♦ About 20% of the population will need care for more than five years, with women averaging 3.7 years and men averaging 2.2 years.**

♦ In 2013, the average annual cost of nursing home care in Memphis, TN, was $72,453, translating to $6,037 per month.***

♦ Future long-term care expenses could potentially amount to hundreds of thousands of dollars.

It is crucial to assess and plan for these potential costs to ensure a financially secure retirement.

Protect your retirement from devastating long-term care costs!

Contact us today for a no-obligation life insurance quote from a Future Benefits Agent by clicking here.

Alternatively, you may reach us at 901-754-2040.

For more details, refer to our Professional Disclaimer.