Lenox Long Term Care

Planning for peace of mind

Read this article from The Wall Street Journal which talks about "When Inheritance Is Negative".

Long-term care insurance is a fast growing segment in the insurance industry. In order to keep up with the demand for this coverage as well as the dynamics of the industry, a company that specializes in long term care insurance is needed. Lenox Long Term Care, LLC is this company. Lenox Long Term Care, LLC represents many of today’s major carriers. This allows us to find the coverage and the carrier that makes sense for each client’s particular situation.

What is long-term care?

Long-term care is broadly defined as services provided to people who are no longer able to take care of themselves due to chronic illness, injury, or the effects of aging. Care is typically provided in your home, a facility, or other community-based setting. The average lifetime chance of needing long term care for an individual 65 years or older is more than 40%. And approximately 72% of people turning 65 will use home care services. *

Why is long-term care a growing concern?

There are several reasons for the increasing need for this type of care. First, people are living longer. That’s the good news. The bad news is that the longer you live the more likely you will need care.

Second, family dynamics have changed. Family members may no longer be able to be the primary caregivers. Often, families are geographically dispersed and children are living in other parts of the country. In addition, women who may have in the past been the primary caregivers are now in the workforce and unable to assume this role.

Third, government systems are already overburdened and this will only get worse once the baby boomers begin to retire, making it more difficult to assist with this care. The federal government has recognized this, which is why they are already offering long-term care insurance to federal employees.

Finally, the cost of care is continually rising. For example, on a national average, a one-year stay in a nursing home costs about $77, 745 † and the average length of stay in a nursing home is 2.44 years. †† If not planned for, long-term care services can be financially draining.

What Are the Benefits of Long Term Care Insurance?

Today’s policies offer an array of features, optional benefits, and payment variations to meet your individual needs. Long-term care insurance gives you choices when you need care. More important, coverage ensures the best type of care from the professionals you choose in the setting that is best for you.

A long term care insurance policy can help you preserve your independence, maintain your standard of living, protect your assets, and preserve your freedom of choice should the need arise.

Important Notice: New York State Provides A 20% Tax Credit For Qualifying Long Term Care Insurance Policies. Visit www.nystax.gov and read Form IT-249 for more details. And click here to view Greg Large’s interview on Bloomberg TV when he discusses the importance of considering Long Term Care Insurance now.


For more information, please contact us at (800) 344-6365.


* Georgetown University Long-Term Care Financing Project, “Who Needs Long Term Care?” 2002
† Genworth: Average Nursing Home Cost Rises 3.4%, by NJ Online News Services- 5/31/2011
†† National Care Planning Council, "About Nursing Homes, 2011

The information on this page is only applicable to residents of Connecticut, New Jersey or New York.  The information provided is not intended for residents outside of these states.