Creating a Plan to Age in Place

elderly woman sitting at kitchen counter
Lori Gubash, CLTC, FICF
Lori Gubash, CLTC, FICF August 11, 2022

Lori leads the LTC team and acts as a liaison to ensure we are providing the best possible Long-Term Care Insurance and business development solutions for our agents and their senior clients.


Home is where the heart is, and most Americans prefer to remain in their own homes for as long as possible as they age. Plus, many don’t want to consider the possibility of developing an illness or disability that will render them in need of long-term care services. Yet nearly 50% of Americans aged 55 and older have been diagnosed with two or more chronic illnesses. These chronic illnesses could potentially lead to complications in their health that will require long-term care.

Aging affects everyone. No matter how fit they are, how well they eat, and how often they exercise, most individuals experience certain inevitable physical, emotional, and mental changes. Even slight changes in health can affect a person’s ability to age in place, especially if they live alone.

Here are some common conditions that impact people as they age:

  • Vision or hearing changes
  • Reduced muscle mass and strength
  • Bone fragility and less balance when walking
  • Diminished mobility and agility

As a society, we are living longer, but that comes at a higher cost. Costs for medication, medical procedures, and, ultimately, long-term care services should be considered when planning to age in place.

What is Aging in Place?

Aging in place means a person is planning to remain at home or the residence of their choice with the comforts that are important to them for as long as possible. As they age, this may mean bringing in services or home modifications to facilitate their living conditions and maintain their quality of life.

When to Start Planning?

To live out their later years as comfortably as possible, people should establish financial and economic plans during their early working years. Plans for aging in place should be part of a person’s retirement strategy from their younger years, which they can adjust and revise as their needs and requirements change.

Read More: Top 5 Clients to Discuss LTCI With

Aging in Place with Long-Term Care Insurance

Long-Term Care Insurance (LTCI) not only provides a benefit for in-home health care services, but many policies also assist with home modifications such as grab bars in the bathroom, ramps for entryways, and medical alert systems. LTCI coverage also includes the assistance of a licensed care coordinator, who can evaluate the services they need and develop a plan to allow them to age in place.

Our team is looking forward to assisting you in developing a plan for your clients to age in place. LTCI premiums can be affordable with the right mindset. We are advising our agents to consider a “baseline” or “benchmark” place to start with their initial discussions so as not to scare away your clients financially. The 3-3-3 plan is a very common place to begin for those in their 50s-70s: $3,000 per month, 3-year benefit, and 3% inflation. Generally, this will start the client out at a reasonable premium level with room to grow or lower it as their premium tolerance allows.

Contact a member of our team to discuss your client’s plans today.