Long Term Care Insurance
Today’s topic is about long-term care insurance, which is a sophisticated insurance product suited for those with assets between half a million and two million dollars. So-called “LTC Insurance” has been around for 20-30 years but in recent years it has become possible to get long term care insurance quotes from online sources, rather than having a commissioned salesperson come to your home and give you the old sales pitch.
Prices for this insurance range from about $50/mo per person all the way up to about $400/mo, so you’ll want to use pre-tax dollars if you can. And while we’re on the subject of taxes… that can be in and of itself a complicated thing, so you’ll want to hire professional tax advice before making any financial decisions regarding long-term care insurance or other derivative products.