Why Should I Not Buy Long Term Care Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    You should not buy long term care insurance if your income or assets are not high enough to justify the cost. If you are renting a home, own no other property, have very little in savings and no investments, it would not take a very long nursing home stay to deplete your assets to the level where you can start going on Medicaid. Rather than sacrifice quality of life to pay long term care insurance premiums, it would be better to not buy long term insurance, in my opinion.
    Answered on September 17, 2013
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