Friday, April 29, 2011

Long-Term Care Insurance: Only The Wealthy Need Apply?

No surprise here:  a new report released by the Urban Institute indicates that only 10.7 percent of all Americans over the age of 55 have purchased any type of long-term care insurance ("LTCI"), but that almost 20 percent of the 55-and-over set with incomes over $100,000 per year have purchased LTCI.  The vast middle class -- a group that suffers the greatest financial impact when facing the cost of long-term care (since the poor will qualify for Medicaid) -- find themselves frequently priced out of the LTCI market.

The full report can be read here.


  1. Long Term Care Insurance is needed in the event that a person becomes physically disabled, terminally or chronically ill. It is a very costly investment, but in the long run may save you and your family money and assets.
    long Term Care Insurance

  2. @Parag, I would also recommend having retirement planning which is also important to have

  3. for long running insurance take any pension plans. there are many types of retirement plans in market to choose and compare.