Is Purchasing Long-Term Care Insurance a Good Idea?
Is a long-term care insurance policy a wise addition to your estate plan? Ask yourself if you can afford to pay over $200,000 out-of-pocket for long-term care. If not, you may want to consider purchasing long-term care insurance because that’s what the average stay in a facility will cost you; however, don’t sign on the dotted line until you understand how long-term care (“LTC”) insurance works.