Is long-term care insurance worth it?
It depends on your assets, income, health, and goals — it protects savings, but only if you can afford the premium long term.
It depends on your situation. Long-term care insurance is most valuable if you have savings you want to protect, want to stay independent of Medicaid and family, and can comfortably afford the premium for the long run.
It may not fit if your income is mainly Social Security, if the premium would strain your budget, or if you have few assets to protect (in which case Medicaid may be your plan anyway). Working the numbers with a licensed professional is the best way to decide.
General information only. This is educational and not insurance, legal, tax, or financial advice. Rules and products vary and change — confirm the specifics with a licensed professional.
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