Women are significantly more likely to need long-term care and yet few are prepared, according to a new consumer guide published by the American Association for Long-Term Care Insurance. Women have 10 times the chance as men of reaching age 85, and make up almost three-fourths of nursing home residents.
“Long-term care is clearly a woman’s issue,” explains Robert G. Cleaveland, co-owner of Cornerstone Financial Strategies LLC located in University Place, WA. “Women provide the majority of care for their spouses or other aging family members, and because they live longer than men are far more likely to need long-term care themselves.”
Planning for long-term care is especially important for women who are married, living with partners or residing alone. “Long-term care insurance is one affordable planning option available,” Cleaveland notes. “But it is essential to get information when you can still health qualify and benefit from available discounts.” Some 8.25 million Americans already own this coverage, according to the long-term care industry organization.
A free copy of A Woman’s Guide to Long-Term Care Insurance Protection can be obtained by calling Cornerstone Financial Strategies at 253.756.2003 or by e-mail contactus@cfs-wa.com. Securities and insurance offered through LPL Financial, member FINRA/SIPC.
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