Long term care insurance
My long-term care insurance, which I’ve had for 30 years, has just gone up $1300 a year, to almost $5,000 a year. Is it worth it to keep it?
Terry Says
Yes, definitely keep it. BUT, the company will offer some alternatives to paying the higher premium. For example, you could stop the inflation protection (keeping the increase you have so far). Or they might shorten the coverage period from “lifetime” to just 3 years, which should be enough.
Ask the company what you can do to lower the increase. But don’t give it up!
