So many clients are interested in purchasing long term care insurance (LTCI), but are scared to pursue the coverage because of the perceived prohibitive cost. There are so many different types of policies and levels of coverage that there may be a policy to fit your budget. That being said, you should become an educated consumer of the LTCI products available to you and the average cost for coverage. This will make it easier for you to enter into the marketplace in order to protect you and your family. Start with this article by the American Association of LTCI which I have linked for you. The article gives some data on the average LTCI cost paid by U.S. purchasers. Please keep in mind if LTCI is not appropriate for you or if the cost does not fit your budget, you might want to initiate Medicaid/Nursing Home asset protection planning in order to safely put away your assets for you and your family.
Please feel free to contact Douglas L. Kaune, Esq. to discuss your particular Medicaid Asset Protection, Nursing Home or Elder law case to determine the appropriate planning for you and your family.