There are two categories of people who don’t need Long-term Care Insurance

  • Rich people: They’re self-insured.
  • Poor people: Medicaid — the government program offering medical care for those with low incomes and few assets — pays for nursing home care.

The solution for the rest of us is to read, compare costs and benefits, and decide if this insurance makes sense and is affordable for us.

When shopping for long-term care insurance, pay attention to the fine print. For example, look for exclusions, benefits, when the policy kicks in and how much it pays. Many policies may also feature rising premiums, which could price you out of your policy just as the need for it approaches.

So, if you’re coming up on your mid-50s, do some research and see if it makes sense. There’s plenty of information online, including Money Talks News’ latest articles about long-term care.

Long term care insurance is more affordable than you think. Unless you are one of these two categories of people who don’t need Long-Term Care Insurance, connect with an expert: Find more resources in our blog.

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