Premiums for Long Term Care Insurance (LTCI) are so much lower when bought at younger ages. Unfortunately, most of us don’t consider buying coverage until nearing retirement.
An annual premium of $3,000, $4,000, $5,000 or more is a lot of money for something you hope never to use!
Maybe another option would work for you.
Why not reposition existing assets. Underperforming securities or CD’s can be converted to an annuity that includes LTC coverage. Or, a high cash value life insurance contract could be exchanged for a paid up policy with a Long Term Care Rider.
There’s more than one way to protect your assets from the high cost of skilled care.