Should I Have Nursing Home Insurance

The prospect of being in a nursing home is great. With increasing life expectancies and better health care, more and more people have found it necessary to enter nursing homes. More than half of women and nearly one-third of men will go to a nursing home in their lifetimes. Although some have sufficient assets to pay the costs of nursing home care, others do not. For that reason, planning is necessary for nursing home expenses. Among the ways to help provide for nursing home expenses is nursing home or long term care insurance. This material provides some basic information to determine whether nursing home insurance should be purchased.

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This is not intended to be legal advice, but rather, to provide accurate information regarding estate, trust and wealth preservation. For more information regarding these matters, please contact any member of our estate, trust and wealth preservation group: James A. Rapp ( jrapp@srnm.com ), Ted Niemann ( tniemann@srnm.com ), Harold B. Oakley ( hoakley@srnm.com ), Michael A. Bickhaus ( mbickhaus@srnm.com ), Jeffrey L. Terry ( jterry@srnm.com ) or Joseph B. Ott ( jott@srnm.com ). Our telephone number is (217) 223-3030. Please visit our website: www.srnm.com. We invite and welcome all questions and comments. © 2013 Schmiedeskamp Robertson Neu & Mitchell LLP Vol. 2015-1