Have you had to deal with a family member staying in a nursing home? Most Boomers that haven’t do not see the need to purchase Long Term Care Insurance. Most that have see Long Term Care Insurance as being one of the most important types of insurance to have. If you are Baby Boomer tha does not have Long Term Care Insurance, you need to take a serious look at it.
Research has recently indicated that 69 percent of Boomers turning 65 in 2006 can expect to use long-term care. The average stay is about 2 ½ years, or about 30 months. You think that sounds bad, it gets worse. In a study done by Genworth Financial, nursing home care in IL has gone up by 26 percent over the past 5 years. This compares to 17 percent increase nationally.