Women live longer than men
As stated previously, women live longer than men. According to recent data, the average American man will live to age 76. The average life expectancy for American women is 81. By default, women will likely need long-term care insurance, as with older age comes more long-term care expenses.
With older age also comes a higher risk of disability and chronic health problems for females.
They often survive their spouse
Women are more likely to age alone. Given the disparity in life expectancy, women are typically the caregivers for their spouses.
When their spouses pass away, they are more likely to live alone. This means there’s no one to provide them with the same caregiving they gave their spouses. Professional caregiving services are often needed in these situations.
For these reasons and many more, women should be thinking about long-term care insurance policies.
These policies are designed to help pay for the expenses related to the care often associated with advanced aging. If you have questions about how to make long-term care insurance a part of a comprehensive estate plan, give us a call.