Why Long-Term Care Insurance Matters


Most people don't want to be a burden on their children. But without a long-term care plan, that's exactly what ends up happening - emotionally, physically, and financially. Long-term care insurance is not just for you. It's for them.

You might think, 'I'll die before that happens to me.' But here's the truth: you don't get to choose when you die - or whether you need care before then. 

If you've ever known someone who didn't have long-term care insurance, you've seen how devastating it can be. Families drained their savings, adult children quit their jobs to provide care, and plans for retirement or education were derailed. 

Having a plan in place changes everything - for you, and for them. 

And if you don't have children? That makes planning even more critical. Who will advocate for you, coordinate your care, or help you manage the details if you're unable to? Having a plan - and funding for that plan - gives you choice, dignity, and protection no matter your family structure. 

Questions That Keep People Up at Night

 

 My Children / Family

  • Will my children have to quit their jobs - or pay out of pocket?
  • Can we afford to hire help without draining our savings? 
  • What happens if I outlive my spouse - or if we both need care?
  • Will I have to rely on my kids for help with basic needs?
  • Would they be financially okay if I became dependent on them?
  • Is it fair to leave my care - and its cost - in their hands?  
 

Senior Living Facility

  • Who will make decisions for me if I'm not able to?
  • If I don't have children, who will take care of me when I can't do it myself?
  • Will I have to rely on friends or extended family - and is that fair to them?
  • What's my plan if I outlive my independence - and my income?
  • How do I make sure I'm cared for the way I want to be - even if I'm alone?
  • What if I run out of money and can't afford my care - what happens to me then? 

The Reality


Who will care for you in your later years?

Medicare doesn't cover long-term custodial care. (3) The national median cost of a private room in a nursing home is over $108,000/year - and rising. Home care averages over $60,000/year for 44 hours/week - and that's without medical complications. (2) 

Most people who need care require it for an average of 3 years, but 20% need it for 5 years or more. The average lifetime cost of care for someone who needs it is over $250,000. (4)

  • 70% of people over age 65 will need some form of long-term care. (1)

  • Only about 7 million Americans have long-term care insurance - in a country of more than 330 million. (5)

  • Women are 70% more likely than men to require long-term care - and typically need it for longer. (6)

  • 40 million Americans currently provide unpaid care to loved ones - often with significant financial and emotional strain. (7)

What We Believe


At Romana Wealth Partners, we believe that long-term care planning is one of the most generous, responsible, and loving things you can do for your family. It's not about expecting the worst - it's about taking that weight off your kids' shoulders and protecting the independence and dignity you've worked your whole life to maintain.

Whether you're considering traditional long-term care insurance, hybrid life+LTC options, or alternatives, we'll walk you through what makes sense - and when to act.

You plan for retirement. You plan for vacations. You even plan your estate. Let's make sure you've planned for care - so your children don't have to. 

Let's Start a Conversation

 
  Romana Wealth Partners  |  6101 Bollinger Canyon Road  |  Suite 225  |  San Ramon, CA 94583


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