Long-Term Care Insurance May Be Less expensive than Do-It-Yourself Caregiving, Bangor-Based Expert Reports

In the event that one of your aging parents all of a sudden requires aid with the responsibilities of daily living

New York City, NY (prHWY.com) December 6, 2011 - FOR IMMEDIATE RELEASE
Contact:
Cathy Allen
Associate
LTC Financial Partners
cathy.allen@ltcfp.net
610-588-0852


Bangor, Pennsylvania, December 6, 2011 - In the event that one of your aging parents all of a sudden requires aid with the responsibilities of daily living, who will probably supply it? You? "If that's your default strategy," states Cathy Allen, Bangor-based agent with LTC Financial Partners, "be ready for sticker shock. The services you provide don't come free of charge."

"Do-it-yourself caregiving can easily end up being really costly. In fact long-term care insurance, even with premium payments stretching more than 30 years, can easily end up being significantly less expensive."

This claim is founded on a current study released by the MetLife Mature Market Institute, "The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Parents." For America's ten million currently employed care providers, life-time losses in compensation, pensions, as well as social security benefits total approximately $3 trillion, based on the research. That is $304,000 for each employee..

"It will probably cost a person a percentage of that for insurance, so you have the cash to compensation a specialist to care for your mother or father," says Allen.

Additional information can be obtained through Cathy Allen at 610-588-0852 or http://catherineallen.ltcfp.com/.

Allen is a leading Pennsylvania long-term care insurance agent, and LTC Financial Partners is one of America's largest and most experienced long-term care insurance agencies. The company is a co-founder and sponsor of the "3 in 4 Need More" campaign, which seeks to multiply the number of Americans protected by long-term care planning.

In California the company is known at LTC Partners & Insurance Services; in other states, as LTC Financial Partners.

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