LONG TERM CARE

Long Term Care insurance has changed dramatically over the last several years. In the old-fashioned form of LTC insurance you paid premiums for 10, 15, 20 years or possibly the rest of your life with no guarantee* that you would ever get a benefit. It could become like your homeowner's insurance, if you never have a fire or flood, you never get a payback. LTC insurance can be the same thing, except prices typically rise more dramatically. The new and superior type of LTC insurance guarantees* you a death benefit or LTC insurance, one or the other. There will be a pay back on your investment. These need to be implemented for people who have substantial assets to be sure that your assets are not depleted through LTC expenses, which are incredibly high and going higher much faster than the rate of inflation. It needs to be addressed and the risk mitigated.

​

*The guarantee is backed by the claims paying ability of the underlying insurance company