Co-Founder, Coastal Financial Partners Group, California
Yes, long term care is worth it!
Long term care insurance is the newest insurance type - introduced in the 1970s. It continues to evolve and cover more. So, it provides more value for the premiums people must pay. That is in spite of the persistent low interest rate environment that makes the job of the insurer more difficult.
Most are still not covered by long term care insurance yet, at an average daily rate of $248, an average nursing home stay of 835 days currently costs over $207,000, making the cost of care virtually unaffordable for many Americans.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Is long term care worth the price? That really is up to the individual. I guess those who go through the steps to purchase long term care feel it is worth both the time and money to own. Long term care isn't for everybody, but it is for those who want some control over the care they receive in the later stages of their life.
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Long term care insurance is the newest insurance type - introduced in the 1970s. It continues to evolve and cover more. So, it provides more value for the premiums people must pay. That is in spite of the persistent low interest rate environment that makes the job of the insurer more difficult.
Most are still not covered by long term care insurance yet, at an average daily rate of $248, an average nursing home stay of 835 days currently costs over $207,000, making the cost of care virtually unaffordable for many Americans.