I had to share this article from CNBC! Most people will need help with daily activities at some point and most receive the care at home. The most meaningful thing you can do for your family is provide them with help when the time comes so that taking care of you doesn’t fall completely on your family. Notice that the article says there are many ways to buy LTCi today, including the ability to have the premium go to your heirs if you never need care. Another important point that the article didn’t address is the ability to buy a policy that protects your assets from Medicaid spenddown equal to the benefits paid out if the insurance isn’t enough and you have to turn to Medicaid for help.
Link to Article from CNBC:
https://www.cnbc.com/2019/10/14/lack-of-long-term-care-insurance-can-devastate-your-financial-plan.html
2 comments
What’s best for a single person in their 30s, Should they get long term care insurance
Author
Thank you for your question! The latest webinar that I did with some of my team has many stories about people in your age bracket having a long-term care need. You can watch it here: https://www.buddyins.com/webinar/register/#register_consumer_public I’ve also had people thank me for advising them to buy long-term care insurance in their 30s who wound up using it. Even if you didn’t have a claim, you could develop a health issue that keeps you from qualifying for long-term care insurance in the future. And of course, the younger you apply, the lower the premium. I encourage you to get a free consultation and find out what a good plan for you will cost. Just complete the short questionnaire and a member of my amazing team will be assigned to you and help you. https://www.gotltci.com/contact-us/