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.

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The information contained herein represents the current views and opinions of Westwood Wealth Management and its Financial Planning Group (collectively “Westwood”). The content presented has been curated by Westwood, but the material is the product and property of Broadridge Investor Communication Solutions, Inc., which Westwood has licensed for use and distribution. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable.

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