For a couple turning 65, there is a 70% chance that one of them will need long-term care. ( Wall Street Journal, 6/23/00).
More than half of women and a third of all men are expected to spend time in a nursing home during their lifetime. (Wall Street Journal, 2/21/01)
The average cost of one year of nursing home care is now over $70,000. (The MetLife Market Survey of Nursing Home & Home Care Costs, 2004.)
The average nursing home stay is two-and-one-half years. ("A Long-Term Commitment," Best's Review, October 2000)
Only 7% of long-term care is paid for by private insurance. ("Focusing on Retirement Needs: The Period After Retirement," Journal of Financial Service Professionals, July 2000)
