Reason #1: 22.4 million families provide care to a person over age 50. By 2020, the General Accounting Office estimates that 10-12 million people will need long term care.
Reason #2: 52 million family caregivers provide care to someone aged 20 or older who is ill or disabled.
Reason #3: The average cost in lost wages and benefits is around $109 per day for a caregiver who must quit his/her job to care for a family member.
Reason #4: 94% of all Americans are without long term care insurance.
Reason #5: Approximately 40% of long term care policies will be used for people aged 18-64.
Reason #6: About one third of the 700,000 stroke victims each year in the United States are under 65.
Reason #7: The younger you are when you purchase long term care insurance, the less costly it is likely to be.
Reason #8: In most cases, you can’t get long term care insurance once you have a problem that requires long term care.
Reason #9: After the age of 65, Americans have more than a 70% chance of needing some form of long term care.
Reason #10: One out of five American households is providing care to an adult family member.
Reason #11: In 2004, the average hourly rate for home care was $18 per hour.
Reason #12: The average annual cost for a private room in a nursing home is $70,080.