Specialist, LTCi, DI, Annuities, Life, Designs In Life, LLC, Utah
Suze Orman recommends long-term care insurance, if it fits and one can medically qualify for it. She is currently taking care of her 90-year old mother who refused to let Suze buy long-term care insurance on her when she could have qualified for it. Of course, Suze has the means to keep her mother at home to the tune of about $25,000/month. That's what 24/7 skilled nursing care costs at this point in time. A facility would cost less, but mom naturally wants to stay home as long as possible. Suze is fortunate to have the means to have that happen.
Ironically, Suze waited too long to apply for her own long-term care insurance. In waiting, she developed some type of medical condition that precluded her from qualifying for coverage when she did apply.
In virtually all of her commentary on planning for retirement, Suze mentions the need to at least explore the financial prudence of applying for some amount of long-term care insurance. Long-term care insurance is not for everyone. But, everyone should have a plan for being taken care of during late life and insurance might be part of that plan.
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Ironically, Suze waited too long to apply for her own long-term care insurance. In waiting, she developed some type of medical condition that precluded her from qualifying for coverage when she did apply.
In virtually all of her commentary on planning for retirement, Suze mentions the need to at least explore the financial prudence of applying for some amount of long-term care insurance. Long-term care insurance is not for everyone. But, everyone should have a plan for being taken care of during late life and insurance might be part of that plan.