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Unfortunately, there is really no way to accurately
predict how long you could need long-term care. There are a lot
of factors that would determine this. For example if you were in
your 80's and had cancer you may not need long-term care as long
as if you were 54 and had a stroke. It is not wise to assume that
if someone in your family needed long-term care for only two years
that you would also only need long-term care for two years.
Statistics tell us that the majority of the
long-term care is for less than 5 years. The disadvantage is not
knowing if you are in the minority and would need it for more than
5 years!
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One out of four caregivers in a 1998
national home care survey reported providing care longer
than five years. The Caregiving
Boom, Baby Boomer Women Giving Care, National Alliance
For Caregiving, 9/98, p.8
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Approximately 43% of those turning
age 65 can expect to spend some time in a long-term facility;
about half of them will require care for three years or
more, and 20% will spend five years or longer in a nursing
home. Financial Gerontology,
Journal of the American Society of CLU & ChFC, May
1997
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The average length of stay in a nursing
home is about 2 ½ years.
"Long Term Care- A Vital Product
in an Evolving Environment", Journal of the American
Society of CLU & ChFC, September, 1997
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You are welcome to read about LTC Insurance now!
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