Build a long-term care plan for your family.
What is long-term care?
Long-term care is something that most people may not think they need, or might think is covered by health insurance or Medicare. The fact is, if you live to be 65, there's a 70% chance you'll eventually need some kind of long-term care.1 But aging isn't the only reason to plan for long-term care—it's there for you if a chronic illness or disabling injury prevents you from living on your own or properly caring for yourself, no matter how old you are.
Long-term care helps with day-to-day tasks like bathing, eating, getting dressed, and getting in and out of bed. And it includes care provided by nursing homes, assisted living facilities, adult day care centers, hospice facilities, and skilled nurses or home health aides in your (or your loved one's) home. If you're not the one who needs it, there's a good chance you'll need to help care for a loved one.2 And having a long-term care plan in place can help you continue to live well without sacrificing the income, investments, and savings you've worked so hard for.
in 5 Americans expect to provide long-term care for a loved one in the future.2
Reasons to plan for long-term care
1U.S. Department of Health and Human Services What is the Lifetime Risk of Needing and Receiving Long-Term Services and Supports?
2Northwestern Mutual's 2018 C.A.R.E Study https://news.northwesternmutual.com/2018-care-study