Q. Why would I want long term care insurance?
A. Because at some point in your life there is a strong probability that you may need LTC and LTC is very expensive. The national average cost of a semi-private room in a nursing home is now $70,000 annually. By 2030, the average annual cost of nursing home care is expected to exceed $190,000 per year; and in most cases, health and disability insurance cover only a fraction of LTC costs.

Don't expect much help from Medicare or Medicaid either. Medicare pays for skilled care, however it if for a limited period of time and generally does not purely cover custodial care (other than incidental homemaker services). Medicaid covers some long term care, but not until you (and your spouse) "spend down" nearly all of your assets.

The bottom line: If you want access to the highest quality of care and don't want to trade the wealth you've accumulated over a lifetime to pay for your care, you need LTC insurance. Remember, too, that the need for LTC can happen to anyone, even in the prime of life. And the cost of purchasing LTC insurance is substantially reduced when you purchase it while you're young.

For more Long Term Care information and trends, please visit the American Association for Long Term Care Insurance.

The Georgia Department of Insurance, along with many others, now require the completion of an 8 hour Long Term Care training course prior to selling, soliciting, or negotiating a LTC Partnership policy. The required CE course work can be attained in a classroom setting or on-line. Below are three providers and links to their websites to help you in completing your CE requirements. Each offers a variety of courses, including the complete 8 hour NAIC required content required in Georgia, and/or other individual state requirements.

Please note: Providers are independent of The Agents’ Marketing Group.