Long term care insurance dilemma:: Should I buy or should I not now?

There has always been a between getting insured for long term care insurance or not. As people age, they are torn on deciding whether to buy this kind of annuity or if they would be better self insuring. Before making any decision, we must be able to weight the pros and the cons of having long term care insurance. This kind of policy does not come cheap but if we compare the benefits that we can get, we will surely get to know the the advantages far outweigh the cost of premiums.

Source:

http://www.infolongtermcare.org/to-get-insured-or-not-to-get-insured/
http://www.aaltic.org
http://www.longtermcare.gov/

Long Term Care Policies

My clients inquire about long term care – they get right to the point of applying and hang up on the horns of this question.  It always reminds me of that song by the punk group The Clash in the 80s.  In wild, head banging furor, they declaimed the lovelorn question:  should I stay or should I go now?

Like the question proposed by our punk poets, it is one that would be easier to answer if we could just see the future.  After all if we knew we were going to be in a nursing home for  2 years, the insurance would certainly be the smarter buy.  Or, if we knew we would have a heart attack just be gone, we’d be quite content having not bought and saved all our money.

So…sans crystal ball, what is a person to do?  Ultimately it is about which mistake you want…

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