Long Term Care Insurance

It is hard to know if and when one will need long term care and how much a long term care event may cost, but there are some statistics that may help. 

For example:

• About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95.1.
• An estimated 11 million U.S. adults need some type of long-term care.
• The lifetime probability of becoming disabled in at least two activities of daily living or being cognitively impaired is 68% for people age 65 and older.
• Just one hour of home-health-aide care costs roughly $20, while the average private nursing home room costs $87,000 a year, and neither routine employer-based medical insurance nor Medicare will pay for extended periods of custodial care.
  

​The Indiana Long Term Care Insurance Program (ILTCIP) is an innovative partnership between the State of Indiana and private long-term care insurance companies. Indiana has taken the lead in helping residents protect their hard-earned savings from the high cost of long-term care.

2019 Indiana Partnership LTC Policy Requirements

• Minimum Daily Benefit - $115 per Day
• Total Asset Policy  - Initial Policy Amount at least $390,035 (2020 - $409,537)