https://longevity.stanford.edu/wp-content/uploads/2017/05/expensiveLongTerm.png 200 360 admin https://longevity.stanford.edu/wp-content/uploads/2017/05/new-logo2-01-300x107.png admin2017-04-26 14:02:352017-05-19 14:02:54This Important Insurance is Becoming a Luxury for Retirees
This Important Insurance is Becoming a Luxury for Retirees
Here’s one more way getting old is getting more expensive. Long-term care insurance, which covers expenses like nursing home care, at-home nursing care and other late-life needs, is fast becoming too costly for many retirees to afford, according to a recent study from LifePlans, an industry research firm. The average annual premium was $2,727 in 2015, an increase of 42% from 2005 and of 19% from 2010. Of those surveyed who were over 50 years old, 55% said they opted not to purchase coverage because it was too expensive.