The purpose of long-term care insurance is to make an unknown expense known. The cost of long-term care, whether at home or in an institutional setting, can be very expensive. To protect your financial assets from this expense, long-term care insurance is available.
When planning for long-term care, it is important to carefully evaluate your situation. If you are poor, you are likely to qualify for Medicaid. If you are very wealthy, the annual cost of a nursing home is not going to erode your estate. If you are somewhere in between, you should evaluate whether long-term care is right for you.
With all the terms and possible riders on long-term care insurance policies, most people prefer to have assistance in evaluating their options. Golden Trail Advisers helps its clients by developing the right specifications and reviewing quotes from different insurance companies with you. We take a process that can be confusing and boil it down to its main elements. Also, we can help you evaluate long-term care insurance in the context of your overall financial plan.
Some of the key terms related to long-term care are described in the links below.
Golden Trail Advisers is qualified to assist you in evaluating alternatives for long-term care insurance and how they might fit with your overall financial plan. Unraveling the complexity of long-term care insurance can help you on your path to financial well-being.