1. As a financial advisor, one of the biggest things I fear for clients over 60 is the unknown of healthcare costs and more specifically long term care costs. It’s hard to know sometimes if you will need it; however, once you do, it is a VERY expensive cost to maintain and I have seen it bankrupt families. So, I am a very big believer in long term care insurance and usually tell people to start looking into it after they turn 50, because the longer you wait, the more you open yourself up to the possibility of a medical situation that may prevent you from getting approved for it.

  2. I’ve thought more and more about buying this insurance for my parents, partially because I don’t think they would get it on their own and partially so they do not have to not allow any financial issues as a reason for not getting the insurance. I wonder how that would all work?

    • I’m not sure, this is something I’ve been wondering myself. But you should be able to do that if you get the insurance with their permission and you just commit to paying monthly.

    • Definitely, I know we blog about saving money, but in a way buying long term care insurance is a way to keep your future savings.

  3. Long term care insurance is definitely something you should look into once you get to a certain age. It’s expensive but it could very well worth it.

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