Smart Money and Long Term Care Insurance

     Smart Money Magazine and SmartMoney.com have always had insightful articles on important financial matters.  I was reading on their site the other day on the importance of planning for needing long term care in a nursing home or home health care.  The problem, they say, is that most people don't think about needing long term care until it is too late.  Picture this: you're faced with $125,000 per year bill.  That's today.  Smart Money goes on to say that they expect the cost of receiving long term care to TRIPLE over the next 20 years. 

The solution for people with assets to protect, Smart Money says, could be Long Term Care Insurance.  Long Term Care insurance is not for everyone, but for some it may be a good financial planning tool to use.

The Smart Money article also says the best time to buy long term care (LTC) insurance is in your 40'2 and 50's because one it is less expensive and two, you can qualify.  As we age our health typically declines and we become a higher risk to the insurance companies to the point where they will not offer you coverage and you will be declined. 

In summary, Smart Money says if you have assets to protect and are healthy, buying long term care insurance sooner rather than later is a good idea for most.  You may also want to read our article (Tax Treatment of Long-Term Care Insurance) as well as their article on Tax Advantages of Long-Term Care Insurance.

If you would like to learn more about long term care insurance and judge for yourself if it is right for you give us a call on our toll-free number or simply fill out the form below and we'll be happy to get you quotes from the top 5 or so companies.