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Q: When Should I Purchase Long Term Care Insurance?

2011 April 30

Dave strongly recommends that people 60 and older have Long Term Care Insurance (LTC).  He does not consider it a good buy or important to have prior to that time especially if it siphons money away from more important financial priorities.  If you still have debt, have not funded your emergency plan, are underfunded in your retirement savings, etc. it does not make sense to emphasize LTC before addressing these other issues.At 60 or older you need to work this type of plan into your insurance programs.

One of the primary reasons for LTC is that  nursing home health care needs can financially drain a family’s savings and have a detrimental impact on your financial lifestyle.  There are many different companies specializing in these types of plans and we have generally found shopping around to be very beneficial.  Coverage can certainly be expensive but there are ways to cut some corners and make sure that you are not over buying. For more information contact us at 800-356-4282 or complete the Long Term Care form on our website and one of our team members will assist you in determining the level of protection needed in your area and also shop among the country’s top companies to find you the best rate possible.

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