Most younger people are not probably thinking of long-term care insurance. It’s no surprise older people close to retirement or at the retirement age are thinking about long-term care insurance as they want to be prepared for the financial burden of potential extended stays in a care facility. They fear the vulnerability of their retirement savings to the unknown and uncontrollable. The problem is that by the time most people want to start thinking about protecting themselves, the premiums are either very high or the person cannot even get coverage due to his/her health history.
What is long-term care insurance? …Read More