Long Term Care Insurance– What you need to know
Having seen a lot of questions about Long Term Care Insurance in a Facebook group, I attempt putting all information in a short post. Yes, I specialized in Long Term Care insurance (LTCi) and Long Term Care annuity. I hope what I wrote here can help you have a good understanding before shopping around for it. 70% of people above 65 years old will need Long term care (LTC), which will not be paid by Medicare or any health insurance you have. With the rising cost of health care, you have to plan big for LTC expenses. You can google and see how much LTC costs in each state, and compare, and plan for yourself. As far as I have known, there are 4 kinds of LTC insurance: - Traditional LTCi – a lot of people when talking about LTCi will think about this kind-“ Use it or lose it”. The premium is the cheapest at the time you apply for it, but no guarantee to not increase. - LTC rider...