Long Term Care Insurance

amother

Sat, Feb 27 2021, 8:47 pm

I really want to buy Long Term Care Insurance but after speaking to my insurance broker it just makes no sense. I’m only in my late 40s. Even so it would cost thousands of dollars a year for me to purchase the insurance. Even then there are caps on what they will pay. Not only that if in twenty years from now if I can’t afford to pay this (about) two thousand dollars a year and I’m not in an assisted living all the money I paid until then is out the window. No insurance and no money.

Am I missing something? How do people who aren’t very wealthy buy long term care insurance?

amother

Papaya

Sat, Feb 27 2021, 9:34 pm

I think most people have medicaid or some other ltc benefits that they qualify for I don't think to many people have private also ppl. get social security and the LTC places use that as well.

jd1212

Tue, Mar 02 2021, 7:21 am

I sell hybrid life/long-term care insurance policies. They will cost more, but people like them because you definitely get the money as a death benefit when you pass away even if you don’t use it for long-term care ever. PM if you’d like more info