Category: Long-Term Care Insurance
What is long-term care insurance, and why is it important? Statistics tell us that: - 75% of those over 65 will need a caregiver or facility services - 40% of people who are under 65 are either on or will be using long-term care benefits for periods of time due to accidents or illness. When we are younger, we think we are invincible.
Economic times bring out the best and worst in insurance products. Hybrid or combination Life Insurance/ Long Term Care plans are associated with derivatives which mean you take the original product and then package it to make promises to people about a probability that may or may not occur.
Your health may change during retirement and you could need nursing services and/or long term care. Here's how long-term care insurance can help.