LTC - 6 to 9 months on average
Statistically most people who enter LTC facility wind up using 6 to 9 months before the big "Check Out". Reason being according to some nurses I know have told me LTC residents are usually in such health decline that they will be passing in less than a year. Of course this isn't the case for everyone but a sizeable majority don't last real long when they've reached that LTC need.
Had a aunt who paid premiums for many, many years and wound up using less than two years of benefit. Another relative, elderly uncle paid a ton over the years and spent less than 8 months. So the LTC Insurance companies made out like bandits on these two.
I've run across the odd story where someone's mom needed full-time care earlier b/c of debilitating stroke and early onset dementia but those are the lesser of what I've personally come across.
As for me and DW, we will do our best to stay healthy, have a set-aside fund for home health, and when time comes, likely will be in the 6 to 9 month program before checking out.
Statistically most people who enter LTC facility wind up using 6 to 9 months before the big "Check Out". Reason being according to some nurses I know have told me LTC residents are usually in such health decline that they will be passing in less than a year. Of course this isn't the case for everyone but a sizeable majority don't last real long when they've reached that LTC need.
Had a aunt who paid premiums for many, many years and wound up using less than two years of benefit. Another relative, elderly uncle paid a ton over the years and spent less than 8 months. So the LTC Insurance companies made out like bandits on these two.
I've run across the odd story where someone's mom needed full-time care earlier b/c of debilitating stroke and early onset dementia but those are the lesser of what I've personally come across.
As for me and DW, we will do our best to stay healthy, have a set-aside fund for home health, and when time comes, likely will be in the 6 to 9 month program before checking out.
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