Posted on Mon Jul 27, 2015, on Estate Planning
Like all insurance, if you end up needing long term care insurance, it can be a great deal. But, if you don’t use it, then you could argue that you wasted your premium payments. In reality, you buy insurance to cover the “what if” situations in life.
I have had plenty of clients that paid for long term health care Insurance that died without using their policy benefits. However, I have also had several clients who fell ill and were able to stay in their homes with in-house care only because of the funds paid out from a long term health care policy.