Long Term Care Insurance
Long term care insurance (LTCI) can provide care and benefits not covered by health insurance, Medicare or Medicaid. Long term care can be expensive, and costs continue to rise. This is why it’s important to plan now, before you need care.
Long Term Care Insurance
Legacy Insurance Agency offers several options to help you plan for long term care. Whether you use traditional Long Term Care Insurance, Life Insurance with an LTC rider, an Annuity with a LTCI rider, or some combination that matches your needs and budget, you can gain confidence in knowing you are protected.
Planning
Putting a long term care insurance plan in place early in life can help ensure that you will receive the quality of care you want in the setting of your choice, should you need care.
Even a well thought out financial plan can fail for reasons that have nothing to do with returns or investments. For instance, a plan could fail if the family breadwinner dies prematurely and doesn’t have proper life insurance in place to protect their family.
This is why it’s crucial to develop a smart financial plan that takes a macro approach to your finances, estate, tax implications and risk management. One area of major concern that is often overlooked is the need for long-term care insurance (LTCI).
Yet, despite the obvious need, LTCI is often overlooked as an important financial planning tool.
Protect Your Retirement and Estate from Rising Nursing Home Costs
We help families secure asset protection and navigate the costs of long-term care. The unexpected costs of long term care can be devastating to any retirement or estate plan. It’s best to make plans while you can.
Plan an introductory consultation so we can learn about your needs and desires. There’s no cost or obligation to learn about your options.
Costs and Statistics
According to historical data tracking from the U.S. Department of Health and Human Services (HHS), roughly 70% of adults surviving to age 65 will need some type of long-term care services during their remaining years.
The Real Cost of Nursing Homes and Assisted Living in Ocean Springs and Biloxi
As of 2026, the average cost of a private nursing home room in Mississippi has surpassed $9,500 a month.
How Gulf Coast Families Can Protect Their Assets from Long-Term Care Costs
According to 2015 long term care statistics from the National Alliance for Caregiving there are 65.7 million informal and family caregivers that provide care to someone who is ill, disabled or aged in the United States.
The Good News for Mississippi
From CareScout Cost of Care Dataset, In-Home Non-Medical Caregiver ($24/hour): Mississippi sits at an hourly median of $24.00, making it mathematically the lowest statewide average in the country for private-pay home aides.
And, it is estimated that less than 10 percent of the over 75 million baby-boomers actually have an insurance policy in place that will cover the costs associated with long-term care. One in four people, age 45 and over, are not at all prepared financially if they suddenly required long-term care for an indefinite period of time.
The Need for Long Term Care
Without considering the potential need for LTC in a financial plan, individuals and families may unfortunately face difficulties providing long-term care when they need it most.
The need for long term care can result from illness, impairment, or an unexpected accident or injury. So, it’s critical to take action to help protect your future. If you were to require long term care, would you be able to cover your expenses and choose how and where you get assistance?
Long term care insurance (LTCI) not only helps you protect your assets, it allows you to live with dignity and independence.
Protecting Your Assets
The costs associated with long term care are generally increasing as are lifespans, so your need to plan ahead for care has never been more important.
LTC insurance helps you protect your assets from being decimated by providing a pool of benefits you can use to help reimburse your expenses for care. That way, should the need for care arise, you can protect your savings and secure your family’s future.
Options for Care
LTC insurance reimburses you for services that can help improve the quality of life for those who are chronically ill and are unable to engage in everyday activities.
A comprehensive LTC insurance policy may provide coverage for long term care needs in the home, community-based settings, an assisted living facility, or nursing home. By providing more choices and more control over care options, LTC insurance can help you face the future with confidence.
Understanding Long Term Care Insurance
LTCI can provide for personal and/or custodial care for an extended period of time. Generally, with most insurance carriers, the trigger for need is the loss of at least two activities of daily living (ADLs). The term “activities of daily living,” or ADLs, refer to the basic tasks of everyday life, such as:
- Eating: preparing food and feeding
- Bathing: personal hygiene and grooming
- Dressing: putting on clothes, dressing and undressing
- Toileting: continence-related tasks including control and hygiene
- Transferring: movement and mobility
No one likes to think about getting older, having a disability or needing help with personal care. However, even small events or accidents can bring on financial losses and unnecessary wealth transfers.
Schedule a No Cost Consultation
Contact us today to find out if Long Term Care Insurance is right for you: http://legacyinsuranceagency.com/contact/consultation