My parents dutifully saved and paid for long term care insurance.
But, ironically, when my mother got sick she was really not able to use the benefits it provided for several reasons, but mostly because her care needs were custodial (rather than skilled needs that are provided by a licensed person) and they could be provided at home.
Nonetheless, I’m still glad they tried to be prepared.
Long term care insurance premiums are very costly and there’s a lot to consider in the fine print.
U.S. News has a good list of things to consider before purchasing long term care insurance: premium prices …read more

It is important to shop carefully for long term care insurance, it can be a complicated matter.
Premiums can be quite expensive, and, you may end up finding out that you aren’t covered for what you need when the time comes. For example, my parents have dutifully paid LTC premiums, but, when my mother needed assisted care in the home, it didn’t pay even though it was far less expensive for her to be home that in a facility.
But, as time goes on, premium rates skyrocket, and, sometimes, people end up losing everything while paying for a policy they might not …read more