A Choice – Paying for Long Term Care Insurance

Purchasing Long Term Care Insurance is a choice, plain and simple. I have found this to be somewhat gender sensitive, meaning my female clients’ interest is greater than their male counterparts. In fact, I have had widows in my office whose very first request was to get them some long term care protection that their husband refused to purchase.

I believe it is a choice because you always have options. You can choose to spend all of your assets on long term care expenses and live with kids, or potentially have to rely on Medicaid should those funds be exhausted.

Previous generations have been surprised by how long they lived. My father-in-law lived to 90, after retiring at 60, as he didn’t think he would live to 70 – I agreed as his older brothers and sisters died in their 70’s. I would suggest current generations need to be aware: life insurance companies actuary tables go out to age 120.I

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Insurance guarantees are based on the claims paying ability of the issuing company.