Should You Get Long Term Care Insurance?

You will find many articles stressing the importance of owning long term care insurance. But it is expensive and getting more expensive. Those who need it can’t afford it and those who can afford it don’t absolutely need it. Several companies have stopped selling policies during the past few years. They thought more people would stop paying for policies which would lapse after a few years and the companies would keep the money that had been paid in. Instead policy owners have continued to pay the premiums and the companies have had to payout more for care than they anticipated! There are many good long term care insurance policies one can buy but if they take all of your free cash flow you will not have money left to invest in your future! If you invest in your future, you may have enough money so that you will be one of those who can now afford to pay for your own care – should you ever need it. Investment News, May 30, 2011 quotes research out of U OF California, San Francisco that “the median stay in a nursing home among patients who die there is five months.” Serious investors will have sufficient assets to cover that in most cases.

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