Who Should Purchase Long Term Care Health Insurance?
The short answer is easy: Anybody who does not have (or does not want to spend) hundreds of thousands of dollars to cover long term care should have long term care insurance. In the event that you are unable to care for yourself, a long term care health insurance policy will prove valuable. The national average for the annual cost of semi private nursing home care is $52,000., This number can be much higher depending on your location. Even at $52,000 per year, you can quickly deplete all your retirement assets and ruin your retirement plan. Buying long term care insurance is an important tool for asset protection planning in retirement. However, the long term care insurance price tag is expensive. Moreover, buying long term care insurance can be a complicated process, with many plans requiring long term care exams. Finally, long term care insurance comparison is not always easy. When evaluating if long term care insurance should be part of your retirement plan, consider the following g
