What If I Can’t Afford Long Term Care Insurance?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    There are some other options.  Some newer Life Insurance policies have long term care riders available that are very affordable.  Another option would be to consider a Short Term Care Policy to help pay expenses until you can qualify for government aid.  A good independent agent who specializes in Care Resource Planning can help you determine your best options based on your affordability.
    Answered on July 7, 2013
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    David RacichPRO
    Fountain Hills, Arizona
    Long term care insurance can be purchased as a standalone policy, or as a rider on life and/or annuity policies. Riders may not coverage the full extent of extended care, but they can provide coverage and also act as a marginal savings vehicle. There is always the government program Medicaid, but it is means tested, so have your adviser examine the options that best fit your scenario before moving forward.
      
    Answered on July 7, 2013
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