Long-term care insurance has grown rapidly in recent years to help cover the costs of assisted living and nursing home care, as people are living longer lives and family structures have changed. Such insurance can help preserve independence and finances by paying for services that allow people to receive care in their preferred setting. It provides peace of mind in knowing the costs of long-term care will be covered, as nursing home care now averages over $70,000 per year and the risks of needing such care are over 40% for those aged 65 and older. Specialized companies like Lenox Long Term Care can help clients find a policy and carrier that meets their individual needs and situation.

1. LONG TERM CARE INSURANCE
PLANNING FOR
PEACE OF MIND
Long-term care insurance has been one of the fastest growing segments in the insurance industry for the past five
years. In order to keep up with the demand for this coverage as well as the dynamics of the industry, a company
that specializes in long term care insurance is needed. Lenox Long Term Care, LLC is this company. Lenox Long
Term Care, LLC represents many of today’s major carriers. This allows us to find the coverage and the carrier that
makes sense for each client’s particular situation.
What is long-term care? Third, you can no longer rely on the government to
provide this care. Government systems are already
Long-term care is broadly defined as services provided overburdened and this will only get worse once the baby
to people who are no longer able to take care of boomers begin to retire. The federal government has
themselves due to chronic illness, injury, or the effects of recognized this, which is why they are already offering
aging. Care is typically provided in your home, a facility, long-term care insurance to federal employees.
or other community-based setting. The average lifetime
chance of needing long term care for an individual 65 Finally, the cost of care is continually rising. For
years or older is more than 40%. And approximately example, on a national average, a one-year stay in a
72% of people turning 65 will use home care services. *
nursing home costs about $71,000** and the average
length of stay in a nursing home is 2.4 years.† If not
Why is long-term care a growing concern? planned for, long-term care services can be financially
draining.
There are several reasons for the increasing need for
this type of care. First, people are living longer. That’s What Are the Benefits of Long Term Care Insurance?
the good news. The bad news is that the longer you live
the more likely you will need care. Today’s top policies offer an array of features, optional
benefits, and payment variations to meet your individual
Second, family dynamics have changed. Family needs. Long-term care insurance gives you choices when
members may no longer be able to be the primary you need care. More important, coverage ensures the
caregivers. Often, families are geographically dispersed best type of care from the professionals you choose in
and children are living in other parts of the country. In the setting that is best for you. Long-term care insurance
addition, women who may have in the past been the gives you peace of mind when you need care. A policy
primary caregivers are now in the workforce and unable can help you preserve your independence, maintain
to assume this role. your standard of living, protect your assets, and preserve
your freedom of choice should the need arise.
Lenox Advisors. Integrating financial security into financial success.
Learn more at www.lenoxadvisors.com
Insurance offered through Massachusetts Mutual Life Insurance Company and other fine companies. *Georgetown University Long-Term Care Financing
Project, “Who Needs Long Term Care?” 2002. **John Hancock 2005 Cost of Care Survey, conducted by Harris, Rothenberg International,LLC, 2005. †U.S.
Department of Health and Human Services, “The National Nursing Home Survey: 1999 Summary, National Center for Health Statistics,” 2002. Lenox
Advisors, Inc. is a wholly owned subsidiary of National Financial Partners Corp. (NFP). #44288-001 © 2012 Lenox Advisors, Inc. All rights reserved.