Term Care Insurance as a Long Term Care Financing
S. Stum, Ph.D. & Claire Althoff, Family Social
consumers have had little experience with long
term care insurance. Take time to examine if this
financing alternative makes sense for your situation.
If so, compare policies and coverage options carefully
to make sure you know what coverage you are purchasing.
This checklist will help you gather information
and learn about long term care insurance. When
you are done, you should be able to answer the
Can you afford to pay the premiums for long
term care insurance now and in the future?
Will long term care insurance help you achieve
your financial goals?
Will you be able to qualify to purchase long
term care insurance?
Do you have assets that you want to protect?
Is this the best way to protect them?
What other financing options can you combine
with long term care insurance to help protect
Will your current and future income and assets
be sufficient to cover the costs of your long
Will your children choose to purchase long term
care insurance on you to help cover the costs
of your care and to protect your estate?
What is the first step you need to take to be
able to finance your long term care costs with