Townhall.com::Is LTC Insurance a Good Idea?::By Carrie Schwab Pomerantz
Link: Townhall.com::Is LTC Insurance a Good Idea?::By Carrie Schwab Pomerantz.
WILL YOU NEED LONG-TERM CARE?
Statistically, the answer is yes. You will probably need this type of assistance. Despite the many health problems in America, collectively, we're living longer, and that clearly increases the probability. In fact, according to the U.S. Department of Health and Human Services, at least 60 percent of people over age 65 will require some long-term care services at some point in their lives.
However, the statistical probability that you'll need this type of care doesn't mean you need LTC insurance. If you're quite wealthy, you can effectively self-insure. Others may have children who can help either physically or financially. And finally, if you're needy, you may qualify for Medicaid assistance.