The world’s population is aging at a faster rate than ever before and people are living longer. Every day until 2030, 10,000 Baby Boomers will turn 65a and 7 out of 10 people will require long term care in their lifetime.b
The cost of that care varies based on care setting, geographic location of care and level of care required, among other things.
Sources:
a "The Guide To Being A Baby Boomer" (https://www.seniorliving.org/life/baby-boomers/)
b 2019 U.S. Department of Health and Human Services (https://longtermcare.acl.gov/the-basics/how-much-care-will-you-need.html)
Genworth Cost of Care Survey 2019, conducted by CareScout®, June 2019