More adults in the U.S. are single than ever before and the numbers continue to rise. Of those who are single, nearly 53% are women. While being single has its positives, it can also come with challenges when it comes to money and finances.

In fact, nearly one-third of women are worried about their finances based on research by Fidelity Investments. Their research revealed single women are the least likely demographic to have a financial plan for paying down debt and setting savings goals.

An important consideration for single women during the retirement planning stages is whether it makes sense to buy Long-Term Care insurance (LTCI). With nearly 70% of people needing some form of long-term care in their lifetime, it’s important to start planning early, including how you’ll pay for care.

If you’re a single woman, LTCI can offer the financial protection you need as you enter retirement. Here are three great reasons why single women need to consider their options and get covered.

Everyone Needs a Care Plan

Who will take care of you if you become sick or injured? You may have adult children, family, or close friends who could help you for a short time period. But a long-term injury or illness typically requires care beyond what most families can physically and financially manage.

Woman Celebrating

A long-term care plan becomes even more important for single women as they consider end-of-life decisions. Common questions arise such as how you’ll be cared for and how you’ll pay for the care. Home care or assisted living services can cost tens of thousands of dollars each year. An important consideration of long-term care planning is transferring your risk to an insurance company to bear the financial burden for you.

Protect Your Nest Egg

Savings and investments can deplete fast when medical and long-term care bills arise. LTCI protects your income and assets against the financial threat of a long-term care event by paying for home care, assisted living, and nursing home care in a facility of your choice. Keep your hard-earned money and protect your nest egg by getting coverage while you’re young and healthy.

“By planning ahead for life’s “what ifs,” you’ll feel more secure and prepared to handle anything that comes your way. “

Be Ready for Anything

Alzheimer’s disease is currently affecting 5.7 million Americans. Of this number, 200,000 individuals are under the age of 65. A serious injury, illness, or brain disease could impact anyone at any time. By planning ahead for life’s “what ifs,” you’ll feel more secure and prepared to handle anything that comes your way. Be sure to tell your family and close friends about your plans so they know how to help, and for their own peace of mind knowing you’re protected.


At LTC Consumer, we help women get prepared for their future with professional long-term care planning. Talk to an LTC Specialist about your coverage options today.