The Long Term Care Insurance Industry is still adapting to offer products that are acceptable to the consumer. The options available to clients are still not perfect but are evolving.
One thing I caution my clients and prospects about when we discuss long term care planning is to be aware of who is providing statistics on how much may be needed in the future. I almost always see statistics from insurance companies quoted in articles. When I discuss the statistical need with clients we look at statistics provided by the long term care industry associations, academics (colleges and universities) and insurance companies. Then the client or prospect gets a better idea of statistical need.
Also, important in the discussion are other factors like longevity and overall net worth, estate planning goals and self insurance potential.
If you are thinking about researching or buying Long Term Care Insurance remember to research from academia and insurance associations. Or, set an appointment for a visit or phone call and we can discuss your situation.