Why People Purchase Long-Term Care Insurance
People purchase long-term care insurance for different reasons, but after more than 35 years in the industry, one trait stands out: They are planners. Most people who explore long-term care planning are not only thinking about themselves, but also about the people they love — spouses, children, nieces, nephews, and friends — who may one […]
How Couples Can Share Long Term Care Benefits
Q: How does a shared-benefit rider for long term care insurance work? Does it cost more than regular coverage? A: One of the big unknowns with long-term-care insurance is predicting how long you’ll need benefits. Although the average need for care is about three years, you might die before needing any care or you could […]
Tactics to make long-term-care coverage affordable
By Kimberly Lankford, Kiplinger’s Personal Finance No matter how carefully you plan for retirement, if you don’t have long-term-care insurance, a catastrophic illness could wipe out your savings. The average private room in a nursing home costs $250 per day — or $91,250 per year — according to Genworth’s 2015 Cost of Care study. The […]