As you are looking for some information about life insurance, you are trying to check if other facts can help you decide on having one from Manila Bankers Life. 

Now, time to check these surprising facts that will help you in your decision-making to get life insurance as your way to show your love to your family.

1. You really need long-term life insurance.

Some may shrug it off yet, a study showed that 70% of people over the age of 65 can expect to use some form of long-term care during their lives. That means there is a pretty good chance that you will need long-term care in the future. Never underestimate long-term life insurance for it will help you secure your family’s future better.

2. 78% of the elderly who need care receive that care from a family member or loved one. 

While providing care for an ailing parent, grandparent, or another family member is part of our culture, let’s face it, it is a great burden financially that can strain relationships in the long run. Let us not make our children a financial backup plan and start having long-term life insurance so that you are set for a lifetime and will not create further strain on your family.  

3. Long-term care has to do with your activities of daily living, not your medical needs. 

Long-term life insurance can help you with your health needs that most medicare and regular health insurance won’t cover, especially when you hit the age limits that vary from different medical plans. Long-term care insurance will also cover an assisted living facility, in-home care, and a continuous care retirement community.

4. The average age of individuals that buy long-term care insurance is 48 years old. 

While that may seem very young, it’s never too soon to start planning for the rest of your life. Long-term care is something that should probably be addressed in your 50s. An insurance plan will allow you to set aside budgeted premiums for your long-term care instead of dipping into your savings in retirement on a fixed income.

5. The amount you pay towards long-term care insurance is considerably less than the cost of long-term care. 

As you pay 20 to 30 years on a long-term care policy, you could get your money back in as little as 12 months depending on your long-term care needs. 

Long-term care insurance can help you in the long run so you won’t have to spend your hard-earned money from long days at your practice to pay for it.

Manila Bankers Life can help you reach your financial security goals to get you started.

For more information, visit Manila Bankers Life‘s website: https://manilabankerslife.com/products.html