RELEASE
ON RECEIPT - August 1, 2006
Quiz on Long Term Care Risk Factors
Five Eye-Opening Questions Highlight Perils of Uninsured Care, from Felton-based LTC Expert, Barbara Hanson
Felton, CA, August 1 -- As 78 million baby boomers approach retirement age, the majority lack long term care insurance. If you're among them, do you know the danger you face? Take the five-question quiz, below. It's from LTC Financial Partners, the nation's most experienced long term care insurance brokerage.
__T __F 1. Nearly 40% of those who need long term care are working age adults.
__T __F 2. Suppose home health care services in your area cost $66,000 per year. If you need those same services 20 years from now, you should plan on paying about $198,000 per year.
__T __F 3. Male Alzheimer's patients live longer than female Alzheimer's patients, requiring more extended long term care.
__T __F 4. Long term care needlessly drains millions of estates, because the expense is paid out-of-pocket as often as it is paid by LTC insurance.
__T __F 5. It's worth paying for care out of pocket, because you can maintain your lifestyle; LTC policies require that you live in a nursing home.
The answers are below. The sources and additional facts are available in an online fact sheet, at www.ltcfp.us/ltcfacts.htm
"We're on a mission to make long term care insurance as common as auto insurance," says Barbara Hanson, Partner of LTC Financial Partners. "Just about everyone needs it because we're living longer and we're more susceptible to downtime."
LTC Financial Partners works with affiliates in the financial and legal fields, and represents multiple leading carriers including John Hancock, MetLife, Allianz, Prudential, MedAmerica, Penn Treaty, Physicians Mutual, and UnumProvident.
ANSWERS TO QUIZ:
1. True. Of those needing care, 39% are between the ages of 18 and 64.
2. True. Care services are set to triple over the next two decades.
3. False. Female Alzheimer's patients live an average of 5.7 years; male patients, 4.2.
4. False. While it's true that care expenses needlessly drain the lifetime assets of millions, more than twice as many pay out of pocket as have the foresight to buy insurance.
5. False. LTC policies vary, paying for assisted living or in-home care. In fact 82% are being cared for at home or in assisted living, versus only 18% in nursing homes. Without insurance, your lifestyle could deteriorate as personal funds run out.
Barbara Hanson has specialized in long term care insurance since 1995 and earned the respected status of Master Agent Emeritus from one of the largest long term care insurance carriers in the industry. Today, as an independent agent representing all major carriers, she is ideally positioned to help individuals, families, and businesses design customized long term care strategies to fit their budget. She has served her community as an active member of the Chamber of Commerce and is a major supporter of her local Alzheimer’s Association. Having had extensive personal experience with long term care in her previous career as an activity director in long term care facilities as well as in her own family, Hanson understands the challenges people face when a friend or family member needs help to stay home safely. She has helped over 1,000 families plan for the potentially devastating financial risk associated with long term health care problems. Barbara shares her expertise through public seminars, guest media appearances, corporate education, and individual consultations.
MEDIA
CONTACTS:
Barbara Hanson of LTC Financial Partners, Felton,
CA
- 831-335-4949 - www.eranova.com/LTCFP-BarbaraHanson
Jonas
Roeser of LTC Financial Partners - 425-284-4863
Dick Samson of EraNova Institute
for LTC Financial Partners - 973-335-3699 – media@eranova.com
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Photo of Barbara Hanson:
