Is Long Term Care Insurance A Good Purchase?

  1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    The #1 risk in retirement is human longevity. The longer we live, the odds become higher that we will need assisted or living and/or nursing home confinement. The costs for care are ever increasing, so it's important to protect your retirement income from the economic eroding affects of long term care costs.
    Answered on August 3, 2013
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  2. 63333 POINTS
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    Peggy MacePRO
    Most of the U.S.
    Long Term Care Insurance is a good purchase if there is a risk of needing nursing home, assisted living, or home health care in your future. My father waited too long to get long term care insurance, and no longer qualified for it. It would have been nice to have that extra income to help my mom care for him. There are so many ways that people can be laid up, and hospitals are reluctant to allow people to stay too long. So long term care insurance can be a very good purchase for helping those who need the care, and for those who give it.
    Answered on August 3, 2013
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