Do I Need LTC Insurance?

Not quite sure if you should have long term care insurance?

Who should consider purchasing long term care insurance?

You should consider buying long term care insurance if:

You have large assets and income.
You want to protect some of your assets or income.
You want to pay for your own long term care.
You want to stay independent from support of others.

Who should NOT consider purchasing long term care insurance?

You should not buy long term care insurance if:

You can't afford the insurance premiums.
You have limited assets.
Your only income is a Social Security benefit or Supplemental Security Income (SSI).
You often have trouble paying for your basic needs, such as food, medicine, housing, or utilities.

Source:
The National Association of Insurance Commissioners

Related Article: Levels of Long Term Care >>