Is Long Term Care Insurance Right For Me?

  1. 0 POINTS
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    David RacichPRO
    Fountain Hills, Arizona
    If you play the morbidity odds of geriatric living, you’ll need long term care insurance. If you generated extended care expenses that you cannot financially cover, you need long term care insurance. If you have family history that has reoccurring nursing home care or home care assistance, you may need long term care insurance.
    Answered on June 3, 2013
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  2. 910 POINTS
    Ken Boncela
    Ageny Owner, Farmers Insurance, Ken Boncela Insurance & Financial Services, Oswego, lllinois
    If you are either very rich or very poor, long-term care insurance is probably not for you.  The very rich can afford to pay for their own care.  The very poor will not be able to afford the premiums and can use Medicaid for their care.  For everyone else in between, long term care insurance is a must.  70% of folks 65 years old and older can expect to need some kind of long-term care in their lives.  And the cost of the coverage is much less than the annual semi-private room in a nursing home in Illinois cost of over $62,000 or homemaker services of over $40,000.
    Answered on June 3, 2013
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