Ask The Expert: Isn't long term care insurance very expensive?

Chris Lynch MBA, CLTC, LTCP

Isn't long term care insurance very expensive?

Like life insurance, the younger you are when you add this benefit to your financial plan, the less expensive it is. Your age at the time you purchase the insurance is the primary factor in determining your cost for a basic policy. The cost increases depending on whether you choose to add optional benefits to the basic policy or if you choose to increase your benefit over time to account for inflation.

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Comments

Posted by: Jerry — 03/30/2011

My husband has PD and is currently covered by a minimal LTC policy. I am interested in purchasing another policy to take over when his current policy is expended. Can you point me in the right direction? Thx Jerry