Long-Term Care Insurance (LTCI)

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Whether you should purchase a long-term care insurance (LTCI) policy depends on your financial ability, age, health status, retirement objectives, and whether you have assets you want to protect.

Once you’ve made the decision to buy, you’ll need to decide how much coverage is enough. Buying sufficient protection is important, but the insurance must also be affordable for you. When considering the purchase of LTCI, you’ll need to pay particular attention to the benefit amount and to the benefit period.

The cost of nursing home care varies tremendously within a community and from one metropolitan area to another. Therefore, it’s important for you to research the cost of nursing homes in your area.

It may be a wise idea to purchase an optional inflation rider for your policy. Although the average daily cost of nursing homes in your locale may be $200 today, it could rise significantly five years from now.

If you’d like to explore whether long-term care insurance is right for you, we’re happy to start the conversation.

The information contained herein represents the views of Westwood Wealth Management at a specific point in time and is based on information believed to be reliable. No representation or warranty is made concerning the accuracy or completeness of any data compiled herein. Any statements non-factual in nature constitute only current opinion, which is subject to change. Any statements concerning financial market trends are based on current market conditions, which will fluctuate. Past performance is not indicative of future results. All information provided herein is for informational purposes only and is not intended to be, and should not be interpreted as, an offer, solicitation, or recommendation to buy or sell or otherwise invest in any of the securities/sectors/countries that may be mentioned.