Long term care insurance
My husband and I are in our sixties and need to purchase long term care insurance. Can you tell us what to look for and suggest some providers?
Terry Says
Yes, and I’m about to write an updated column on this topic. You are wise to plan ahead. The column will detail the two types of LTC insurace available now. You an pay an annual premium for coverage — although that exposes you to premium increases each year. Or you can purchase a combined life/LTC policy. That way, if you don’t use the money for care, your heirs will receive a benefit. You deposit a lump sum into the policy, or a fixed amount over 10 years. But the premiums can never go up, nor can the promised coverage decline. For quotes and explanations, I always send people to MAGA LTC — 800-533-6242, Ask for Brian Gordon, CEO. (I get nothing out of this, but feel free to mention my name — or not!)
