Family Planning

How Long-term Care Insurance Fits into Your Financial Plan

Long-term care insurance is a crucial part of any sound financial plan. After all the hard work you’ve put into building a life for yourself through your IRA, 401K, and other investments and savings, protecting those assets – and your family’s welfare – is the next critical step. Don’t let an accident, illness or other condition potentially drain your finances and put emotional stress on your family. Planning for these incidents will help ensure that they don’t compromise your family’s financial future. Long-term care needs are best met when they are planned for – don’t let them take you by surprise and jeopardize all that you have worked and saved for.

 

When to Start Considering Long-term Care Insurance

Everyone’s situation is different. It isn’t easy to put an exact date on when it is best to begin protecting your assets and your family for future potential long-term care needs. But in general, when you are in your 40s or 50s is the best time to weigh your long-term care insurance options and make a plan. Generally, the younger and healthier you are, the lower your premiums will be when you purchase long-term care insurance.