A Simple Case for Long-Term Care Insurance

A recent article in the New York Times makes a great case for purchasing Long-Term care insurance.

The article describes in great detail the situations where men "default" into becoming primary caregivers, largely because no prior thought or conversation was given to long-term care financing and planning.

Here’s how the article starts:

“ When Peter Nicholson’s mother suffered a series of strokes last winter, he did something women have done for generations: he quit his job and moved into her West Hollywood home to care for her full time.

Since then, he has lost 45 pounds and developed anemia, in part because of the stress, and he is running out of money. But the hardest adjustment, Mr. Nicholson said, has been the emotional toll.

“The single toughest moment was when she said to me, ‘And now who are you?’ ” he said. “My whole world just dropped. That was the pinnacle of despair.””

An important question is: If Mr. Nicholson’s mother had purchased affordable long-term care insurance while she was able, how differently would this situation have turned out?

Learn about your options when doing your Long-Term Care Planning with a free consultation.