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

Sunday, February 6, 2011 - 11:54 AM
From the Wall Street Journal:
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.

Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
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.
ShorebreakShorebreak2,700 posts since
Apr 6, 2010
Rep Points: 14,633