Does long-term care insurance still make sense in 2020? In this guide, I will go over:

• What is Long Term Care Insurance (LTCI)
• Long Term Care Insurance Options
  • Standalone LTCI
  • Hybrid LTCI policies
  • Standalone LTCI
  • Chronic illness policies. Are they really LTC insurance?
• Who should and shouldn’t buy long term care insurance
• How much long term care insurance costs
• What other options are available instead of insurance
• How long term care insurance can fit into a solid financial plan

I find many clients have very strong feelings for and against long term care insurance and planning for this event. This article won’t attempt to convince you of the odds of having a long term care event or not, but hopefully will help you in understanding the marketplace and what your options are.

What is Long Term Care?

What is Long Term Care Insurance?

As the name suggests, LTCI is insurance sold for the purpose of paying for long term care. LTCI benefits are triggered by needing assistance with at least two of the six daily living activities or one in the case of cognitive impairment

Activities of Daily Living(ADL)

• Personal Hygiene – bathing, grooming, etc..
• Continence – mental and physical ability to use the bathroom
• Dressing – dressing yourself without assistance
• Feeding – whether you can eat by yourself or need assistance
• Ambulatory – ability to move from one place to another and walk independently
• Cognitive- If you suffer a cognitive impairment, you qualify to go on claim and do not need another impairment.

If you are having difficulty with any of the ADL’s above, a doctor wi

Long Term Care Insurance Options

LTC Annuity

Standalone policy

Hybrid policy

Chronic Illness

How much does Long Term Care Insurance Cost

Who should and shouldn’t buy a policy

Alternatives to buying a long term care insurance policy