Gay Couple Especially Need Long Term Care Insurance is the title of this blog and the reason is most gay couples don’t have kids that they can depend on to take care of them in their own age. About 1 in 2 people will need some form of Long Term Care before they pass and that care can be expensive. Also, gay couples tend to have higher net-worth individuals since they don’t have to spend all that money on raising kids so in turn they have more investments to protect. The average gay American have a net worth of $450,000 once they reach retirement which is about 50% higher than the average non-gay couple. This means that gay American will be forced to spend down the $450,000 first before they can expect any help from the government to help pay for Long TerM Care Insurance.
Gay individuals who have no spouse are at the greatest risk since they have no one to lean on. The Gay divorce rate is a bit higher that heterosexual couples so that means if you are a gay person there is a greater likelihood you will be alone in you old age. Who will take care of you? Yourself! If you buy a Long Term Care Insurance plan it gives you the control so that you can choose where and what type of care you’d like to receive and by who. Is the person looking after you a trained person? Are they equipped to handle your situation? A Long Term Care Insurance policy will allow you to receive quality care that fits your needs.