Long Term Care Insurance (LTCI) is for anyone who has assets they want to protect should extended nursing care occur. Therefore, unless you are very, very wealthy or have few assets, Long Term Care Insurance is something you should consider.
When I say very, very wealthy, I am talking about anyone who can handle $1 million or more out of pocket without blinking. Where do I get the $1 million number? A little math: the projected nursing care cost 10 years from now is $175,000 annually. That cost of care for six years is just over $1 million. As you might expect, Long Term Care Insurance is not inexpensive. Nor is it simple.
The following ten tips are meant to help you understand Long Term Care Insurance better and make a knowledgeable decision that is best for you when purchasing it:
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