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.

3 comments:

  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

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

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

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