Is Long Term Care Insurance A Good Investment?
1305 POINTSview profileNeil SteinmanOwner, Orange County Health & Life Insurance,I don't think it would be ethical for an agent to call Long Term Care (LTC) an investment. However, I think LTC may very well SAVE your other investments. In other words, if you need LTC but you don't have a LTC policy, then the care you may need can very possibly eat through your investments and savings rather quickly, since a LTC claim can often last for 2 year or longer. LTC is generally considered to be an imporant part of any investment portfolio, but I would not call LTC an investment in of and by itself.Answered on June 7, 2013flag this answer
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaLong Term Care Insurance is not an investment at all. It is a morbidity insurance product to fund long term care expenses, generally a defensive planning tactic during retirement. If the question is along the lines of: Is long term care insurance money worth spending, then the answer is yes. If you don’t have long term care, then your investments will be at risk to the expenditures of extended care during your senior years.Answered on June 8, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.When you consider that paying for long term care can eat up a very large portion of one's estate, if not all of it, long term care insurance can be considered a good investment. If there is a claim on the policy, the money that was paid in premiums will bring a big return. If there is no claim, it won't. That is the nature of most insurance, protection for future events that may or may not occur.Answered on August 3, 2013flag this answer
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaIn retirement, human longevity is a huge risk. The longer we live, the odds become higher that we will need assisted or living and/or nursing home confinement. The costs for care are ever increasing, so it's important to protect your retirement income from the economic eroding affects of long term care costs.Answered on August 3, 2013flag this answer
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