Long-term care insurance, not only secure financing your future long-term care expenses, but also protects your assets so you will have something to pass on to your heirs and loved ones. Expensive as it may be, it is still easier to pay an affordable monthly premiums than to incur large out of pocket expense to pay for the cost of such services. In the end, we will get to realize that the capital needed to pay for long-term care insurance is typically smaller than the amount of money needed to pay for the cost of long-term care.
Plan to create a pool of healthcare dollars that will grow in any market.
Provided by Jeffrey Davis
How will you pay for long term care? The sad fact is that most people don’t know the answer to that question. But a solution is available.
Many baby boomers are opting to make long term care coverage an important part of their retirement strategies. The reasons to get an LTC policy after age 50 are very compelling.
Your premium payments buy you access to a large pool of money which can be used to pay for long term care costs. By paying for LTC out of that pool of money, you can help to preserve your retirement savings and income.
The cost of assisted living or nursing home care alone could motivate you to pay for an LTC policy. Genworth Financial conducts a respected annual Cost of Care Survey…
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