Sunday, February 6, 2011 - 11:54 AM

Pros And Cons Of New Long-Term-Care Insurance Alternatives

As long-term-care insurance grows increasingly expensive and harder to get, insurers are stepping into the breach with new life policies and annuities that pay out long-term-care benefits during one's lifetime. But the new products may be an imperfect substitute.

KenBDG5,138 posts since
Nov 29, 2009
Rep Points: 116,968

1. Sunday, February 6, 2011 - 5:13 PM

Long-Term Care Insurance is appropriate for certain people. If you are really wealthy you can fund your own long-term care. If your are poor Medicaid will take care of you. Those in the middle are basically stuck. Either go broke paying for long-term health care or buy a policy. I suggest buying a policy no later than the mid-50s and insuring there is an inflation rider on the policy. Pre-existing conditions WILL affect policy premiums.

Shorebreak1,281 posts since
Apr 6, 2010
Rep Points: 4,786