Saturday, January 10, 2015

Sunday Column in the N&O: Long-term Care Insurance


  1. I've read about it this morning and I've learned a lot actually. Long term care insurance is definitely an efficient way to pay for long term care but people should study this product before making a purchase. There are some instances wherein policyholders are having a hard time filing for claims. The result of this is their lack of knowledge of the product. It's advisable to read the fine print first and of course only purchase from a reliable carrier.

    When it comes to the soaring premiums, I do agree that policyholders should hold on to their coverage rather than drop it and change carrier. The most sound solution is to lower your benefits but make sure that they are still enough to cover your future long term care expenses.

    Overall, this is a fine and helpful read about ltc insurance and here are other resources you can use: and

    I hope this article can help a lot of people understand what long term care insurance policy really is and can help them determine if this is the right product for them.

    1. I agree with you Veronica. Long term care insurance is definitely an efficient way to pay for long term care. But unfortunately, people are easily discouraged to apply for one because it is known to be expensive and can only be bought by wealthy people.
      This type of insurance has a lot of types offering different features, there are even customizable policies that should fit their needs and budget. I'm sure people can get a policy that is right for them, it will just take them diligence on finding one. For the start they can check online insurance quotes to get a better view how much a policy really cost. Usually these quotes are free online and may come from different companies. They can try pages like which says they offer quotes for free and from various carriers.
      Hope this 2015, statistics will improve and that more people will be able to understand the importance and role of long term care insurance especially in retirement.