The average cost of a private room in a nursing home is now over $100,000 per year, and many people are not prepared to pay for this out of pocket. As a result, there is a growing interest in life insurance products that can provide long-term care (LTC) coverage.
Todd Wolfe, Senior Insurance Associate, discusses how life insurance can help address the potential depletion of assets and the impact on clients' ability to leave an inheritance due to long-term care expenses.