Long Term Care Insurance: 3 Things to Consider Before Buying a Policy
More than 70% of adults who live to 65 will need Long Term Care of some kind! Not only is LTC very expensive, but most costs aren't covered by Medicare nor other health insurance plans. As I explain to Erin Kennedy, without proper planning this can wipe out your retirement savings. But before you buy a policy, first, crunch the numbers to determine:
- What is the right age to buy LTC insurance? And will I be able to qualify?
- How much will it cost? And can I afford it?
- Should I consider other options (like Life Insurance with Living Benefits, Hybrid Life Insurance, or Hybrid Annuities)
There's a lot of advanced planning that goes into determining when or whether you should buy Long Term Care Insurance. If you'd like to talk through these options to figure out what's best for you and your family, please feel free to reach out by calling 830-476-2505 or by setting up a free chat at www.LongLiveMyMoney.com.
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