Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.

1. Bathing 2. Dressing 3. Eating 4. Toileting 5. Transferring– e.g., bed to wheelchair

 In 2009, the average annual cost of a private nursing home room was $80,000 Source: Kiplinger Personal Finance, March 2010 p.57  Imagine what the number might be when you could need a nursing home  About 1 in 4 people turning 65 in 2010 will need at least one year of nursing home care

 Monthly or Daily Benefit  Waiting Period: 30, 60, 90, 180  Where you want your care: best is everywhere– a facility or home care  Benefit Period: How many years?  Inflation adjustments  When does the policy kick in?– often when help is need with two daily activities

 Coverage: up to $345,600 (160 X 360 X 6)  Waiting or Elimination Period: 60 days  Everywhere, home or facility  Daily benefit compounds at the CPI– consumer price index Annual Premium: $2,447

 Who needs Long Term Care Insurance?  When should you buy Long Term Care Insurance?