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Long Term Care Insurance Center

Long Term Care Insurance Q & As

Question 4 of 10 in How Much Do I Need
What if I have enough saved to pay for extensive long term care?
Purchasing long term care insurance is more than a financial plan. It is a statement of intent. It says that we have thought this through and prepaid (insured) the major share of the cost. Too many people with an abundance of assets refuse to divert their wealth from their beneficiaries to a facility or to home care professionals. So they wait until they begin to lose dignity, or they begin to feel like a burden to others. Clearly, adequate insurance allows a person to obtain professional services or go into a professional facility with financial impact being of only secondary significance. Similarly, planning for possible long term care costs frees family members from the potential feeling of guilt for not taking personal care of the individual, even when not trained or qualified to do so.