Long-Term Care Insurance
Chesterfield Baptist Church • 16520 Hull Street Road Moseley, VA 23120 Organized by Chesterfield County Parks and RecreationAbout this event
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Description
Given that the cost of long-term care can quickly deplete your life’s savings, it makes sense to add long-term care insurance to your financial plan. People insure things, things that typically have keys: homes, cars, boats, etc. Did you know that there's a 3% chance of your house burning down in your lifetime? Or that you have a 17% chance of totaling your car? People usually have insurance for those events to prevent financial catastrophes. However, when it comes to long-term care, the picture is quite different: if you live to age 65, you have a 72% chance of needing long-term care of some form, whether that's in-home healthcare, assisted living, a nursing home, or some combination of those. Unfortunately, very few people have a plan to help them cope.
Decades ago, the kids and grandkids would take care of their parents, but now quite often the kids are scattered all across the country and unable to care for Mom and Dad and therefore professional care and assistance are needed. That professional care, though, is quite expensive, typically ranging from $6,000-$8,000 a month, often for many years. Given the high probability of such a massive expense occurring, no retirement plan is complete without a plan for long-term care. Almost any plan is better than no plan, but you have to have a plan. Come join Jeff Dietz, Retirement Income Certified Professional, as he discusses the challenges of long-term health assistance and the strategies available for dealing with this potentially devastating financial threat.
Activity Family
Health and Fitness
Location
Chesterfield Baptist - MP Room A-B-C at Chesterfield Baptist Church