Disabled Couple's Long-Term Care Insurance

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SmartAsset

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Ask an Advisor: Our Net Worth Is Up to $3.7 Million. Does It Make Sense to ‘Bite the Bullet' and Buy Long-Term Care Insurance?

Summary

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72% Informative

Long-term care insurance is a good option, but there are other planning-related factors to consider.

Consider your long-term planning goals as well as your retirement objectives.

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If you don't plan on leaving a legacy, and if other retirement expenses are reasonably low, then you could feel more confident not having LTC .

A standalone policy could be sufficient if you perceive the likelihood of a LTC event to be reasonably high and if you have sufficient life insurance in-place already.

Consider structuring premiums annually and funding from your asset base.

It’s also helpful to think about the cost of LTC insurance as a percentage of your assets.

SmartAsset ’s free tool matches you with up to three vetted financial advisors who serve your area.

An emergency fund should be liquid -- in an account that isn't at risk of significant fluctuation like the stock market.

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Neutral language

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informal

Language

English