The long view of long-term care insurance

Description

Abstract: According to the U.S. Department of Health and Human Services, roughly 70% of Americans aged 65 or over will require some form of long-term care. A practical solution to pay for these services is to purchase a long-term care (LTC) insurance policy. With LTC insurance, a person can reduce the possibility that his or her lifetime of savings will be drained by long-term care costs. This article examines what an LTC insurance policy covers and provides three areas to consider before purchasing a policy.