In all honesty, Long Term Care Insurance is not important for everyone. If you have very few assets and low income, you may sacrifice to pay Long Term Care premiums for extended care that may or may not be needed, and that Medicaid could cover if needed. If being able to choose your own place and type of extended care is important to you, then Long Term Care Insurance is a great thing to own even with low assets, as long as you can afford to pay the premiums.
Long Term Care Insurance is most important for those who have an estate to protect. If you have saved up to pass an inheritance to your loved ones, or wish to pass a business to a successor, your intentions could be jeopardized if you were to to need care for an extended period of time. Long Term Care can pay that for you and allow your estate to remain untouched.
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Long Term Care Insurance is most important for those who have an estate to protect. If you have saved up to pass an inheritance to your loved ones, or wish to pass a business to a successor, your intentions could be jeopardized if you were to to need care for an extended period of time. Long Term Care can pay that for you and allow your estate to remain untouched.