How Much Long Term Care Insurance Coverage Do I Need?

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    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    The greatest risk to retirement is longevity risk. With many Americans living longer retirement income will be strained by the additional years of life expectancy. But the second retirement concern is assisted living and'/or nursing home confinement. Long term care insurance can help mitigate the costs of care during your senior years. That cost could be as high as $400,000 to $450,000. If you're healthy, purchasing long term care insurance can be affordable and help relieve the financial pressure of living longer. You should consider buying the maximum benefits.
    Answered on August 2, 2013
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