Once you take out a plan, you can rest assured that you’ll have some funds to support you and your health as you age. If you’re the worrying type, long-term care insurance can ease your nerves. “You can’t be sure whether the premiums will rise in the future, and there’s uncertainty about the insurance being accurately priced.” Pro: Long-term care provides peace of mind: Premiums offered now might change over time, and there’s still much debate over how to properly price different plans. Given that long-term care insurance is relatively new-McCurdy says it’s in its “teenager phase”-pricing has been a major concern. Con: There’s currently no certainty in pricing: in Chicago, says determining “is long term care insurance worth it” is entirely situational, he outlined the following long term care insurance pros and cons to consider as you weigh your options. Pros and Cons of Long Term Care InsuranceĪlthough Adam McCurdy, a financial planner with Foundation Capital Advisors, Inc. So, is long term care insurance worth it? While others want to assurances that they will be taken care of. Many people opt not to purchase it because it costs too much or they simply don’t know enough about it. In fact, long term care insurance pros and cons are pretty balanced. There is no right answer for whether to purchase long-term care insurance.
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