When it comes to insurance there isn't a one-size fits all approach. This is especially true when it comes to long-term care insurance.
When thinking about your long-term care insurance policy, it is important to take the following into consideration:
Protecting Your Assets
Long term care insurance should be a factor in your overall retirement planning. Because needs, resources and personal situations differ, it's important to discuss your situation with a trusted advisor.
Current Long Term Care Costs
Whether you plan to move to a warmer climate or closer to your family, the cost of care varies by state and by region. Where you retire is an important factor in determining the amount of coverage you will need.
Here are some national average costs for long-term care in the United States (in 2020). Local costs can vary drastically.
Remember, the cost of long-term care depends on the type and duration of care you need, the provider you use, and where you live.
How Much Care Will You Need
The duration and level of long-term care will vary from person to person and often change over time. Here are some statistics to take into account:
As you can see there are many issues surrounding buying long term care insurance. We know you have questions so give us a call and let's sort them out.