Jul 31
Should I consider purchasing long term care insurance?
Marshall Loeb of MarketWatch recently wrote an article entitled, “Do You Need Long Term Care Insurance“. Often times, I like to share articles from experts in other fields, and I think this is a valuable one to share.
According to the article, the U.S. Department of Health and Human Services estimates that by 2020 there will be 12 million Americans requiring long-term care and it will come at a high price. The average cost for nursing homes hovers around $74,000 a year and is expected to go on rising.
The article identifies many good things you should think about when considering whether or not to purchase long term care insurance. I hope this helps in your decision making process.
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August 8th, 2007 at 10:39 pm
As I see it… if you plan on being alive, you should definitely consider long-term care insurance! One element of my workload right now leads me to spend a little time visiting in a number of long-term care facilities in my area – from the very nice to the exceedingly awful. Believe me, having seen the options, you do NOT want to be caught without a way to pay for long-term care. The fallout for that unfortunate oversight can be utterly appalling.
August 28th, 2007 at 12:29 pm
I found a user friendly informative website at guidetolongtermcare.com. Both my parents and my wifes parents required different amounts of long term care. Total cost to us, don\’t think we\’re cold but this is fact, $340,000 that would have been left to us for our childrens college or ??? Knowing what I know now I would have paid for their insurance.