What Are the Chances That I’m Going to Need Long-Term Care Insurance in My Later Years?

There’s a saying "there are no guarantees in life," and nothing is more true than when reaching the later years. The chances that you are going to need long-term health care of some type increases with age. But, how do you know that this type of care is absolutely going to happen? The short answer is: you don’t. About the only way to determine if you’ll need some kind of medical assistance for a period of time is dependent on your own personal risk factors. 

Living a sedentary life with little exercise and excess weight gain is one factor, along with diabetes and high blood pressure. Family history of illnesses can also influence what happens in the later years. Gender plays a role, what with women living an average of five years longer than men. Even age alone influences the risk factors of needing long-term care of some type. Finally, your living arrangements can determine if you need help or not. Someone who lives along is more likely to need assistance than someone who has a partner.

In terms of cold, hard numbers, the risk of needing long-term care for certain periods of time ranges from 12 to 20 percent. About 31 percent of all individuals in this age group will require no long-term care whatsoever. 

Are you in the Sterling area and looking for information on long-term care insurance? Contact Pilkington Financial Services to talk to an agent today!