Filed Under:Health Insurance, Ltci

Buying LTCI for parents

A 4-step process

A new play,
A new play, "The Outgoing Tide," shows what can happen when families fail to plan for LTC needs. (AP Photo/Keith Sherman and Associates, Matt Urban)

Millions of middle-aged Americans worry about parents in their 50s and 60s who lack long term care insurance (LTCi).

Should they buy policies for their unprotected parents, and if so, how should they go about it?

A financial professional should help the client determine if LTCi is a better LTC financing tool than the alternatives.

The professional should ask the client questions such as:

 

Some siblings might be in a position to help with the premiums, and some may not.

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Nichole Morford

Nichole Morford
Managing Editor

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