Saturday launches online long-term care insurance assessment tool
NJ-based insurance agency Saturday Insurance has created a Long-Term Care Insurance Assessment tool to help families better understand the costs of long-term care, learn how insurance works and assess the potential cost of coverage.
“A recent Federal study reported that more than half of all retirees will need long-term care at some point and costs can climb to more than $100,000 per year. The majority of Americans researching long-term care have questions about the cost of care, how to pay for it and whether insurance covers such costs. By answering the burning questions consumers have about long-term care and making insurance pricing transparent, we hope to help consumers jumpstart their research and get them on a path to financial security.” – Dennis Ho, CEO and Co-Founder of Saturday Insurance.
The Saturday Long-Term Care Insurance Assessment takes each person through the following topics:
- What is long-term care?
- How much does long-term care cost?
- Do I need long-term care insurance?
- How does long-term care insurance work and how much does it cost?
- Where to go for additional help.
The assessment asks basic information such as a person’s age, gender, marital status, and state of residence and then presents long-term care costs in their area and an assessment of how much lifetime care costs they might incur. Care costs are based on the 2019 Lincoln Financial Cost of Care Survey, which provides detailed costs for a range of care options across all 50 states.