Long Term Care Insurance - Should You Get It?
Long Term Care Insurance - Should You Get It?
Long term care insurance has gained popularity lately as people are finding that they are living longer. Many states are also offering tax incentives for purchasing long term care health insurance. But is it right for you? Here are some things to consider.
Long Term Care Premiums Too Costly? It Depends
Most people think the need for long term care assistance is for people in their 70’s and 80’s. The fact is that 40% of long term care needs are under age 65. The younger the age the lower the premium. Plus at younger ages, people are generally in better health in order to qualify. These plans not only help pay for custodial care expenses but also preserve assets that may now or later be needed to pay these expenses, but were really planned for retirement income. And especially now when people’s assets have decreased significantly.
Long-Term Care Insurance and Long-Term Care - Is it Reasonable to Be in Denial?
Long-Term Care insurance is not for everyone. Everyone seems to have their own reasons why they have not purchased this type of insurance. There are the obvious reasons based on sound financial decisions and other reasons based on feelings or emotions that are not very sound or reasonable.
