Ask Terry Questions Long term care insurance

Long term care insurance

By Terry Savage on January 23, 2021 | Insurance & Annuities

Hi Terry,
Is long term care insurance a good thing to buy? I’m 58 years old, pretty good health but I’m afraid if I do buy it how do I know that insurance company will be around in 20+ years

Terry Says

That’s the least of your worries. The cost of long term custodial care is rising — and you want to access care at HOME! That’s what LTCI insurance is all about. And now I recommend the “combo” policies that offer life and long-term care (a win for your beneficiary if you die without needing care). And you can lock in the premiums on a 10-pay basis, so they can’t rise in the future.
Read this column.
You are at the right stage of life to buy it — young enough to afford the premiums, and also to be healthy enough to qualify.

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