Thursday, April 12, 2012

Planning to Use Assets to Pay for your Long-Term Care Expenses?

Many people feel that they do not need long-term care insurance because they will pay for their care themselves. If this is the case, you should rethink this and answer this questions - What assets have you set aside to pay for your long-term care expenses? After thinking about this, is the answer your retirement savings or your children's inheritance. Or if you plan to liquidate assets to pay for your long-term care needs, please know that this may trigger penalties and tax consequences and also the loss of future earning the asset may have created.

Long-term care insurance may be a better alternative if you compare the costs of the premiums versus using assets that have been already allocated elsewhere. To talk to a professional about your long-term care choices complete this form here -

1 comment:

  1. Earlier I was in doubts, but my relatives have recommended me this long term care insurance. As health is probably the most valuable thing in our life, I think I will probably use this long-term insurance. Well, I must confess that I do not have enough money for this service. I guess I can use some service that gives loans for this. I wonder if I borrow fast $700 with no credit check, will it be enough to get a good care insurance? I suppose I should try. When it comes to heath, you should not hesitate about money.