Long term care insurance, also known as LTC insurance, is typically not what most Americans consider to be a needed type of insurance. Unfortunately though, this type of thinking has strained the finances of a lot of families who unexpectedly have to care for loved ones in their better years.
If your insurance agent suggests long term care insurance for your insurance portfolio, you should consider the coverage. Deciding to purchase long term care insurance, whether through an insurance agent or an online insurance quote, is a good decision if you don't want to take the chance of putting your loved ones finances in a strain because they would need to take care of you in your later years.
Who should own long term care insurance is a tough question. I think it makes more sense for a married couple to own a policy, rather than a single person. If a single person uses all of his/her savings/income to pay for care, that’s not so bad. If, on the other hand, a spouse requires care and uses up a significant portion of the couple’s savings and/or income, the healthy spouse would have quite a burden to bare: both emotionally and financially.
I found this website to be very helpful:
http://www.ltcinsuranceshopper.com
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