It doesn't occur to me to read my Long-Term Care insurance policy just for fun, but with these tough economic times, I have found comfort in knowing that it is there and the benefits are growing.
Most feel that long-term care planning is an unpleasant topic. The thought of being old and chronically ill is a subject that is easily set aside. The truth of the matter is it is best to put a plan in place before a life crisis occurs. Why? While you are younger and healthier, the chances of getting long-term care insurance is greater. You many even benefit from the discounts available for preferred health.
Many are now part of the "sandwich generation" in between caring for aging parents and still actively involved with your own children. These realities help contribute to my appreciation of long-term care insurance policies. In addition, my grown children have a great appreciation of our long-term care insurance policies.
The uncertainty in the economy and the financial markets also make reading your long term care insurance policy a bit more enjoyable. Your lifetime maximum is one clearly defined number, no decimal points, share prices or "depending on market performance" caveats in the summary of coverage. It also feels nice to read the words "Inflation protection."
The best advice is to schedule an appointment with a Long-Term Care Insurance Specialist. You will receive a free, no obligation "side by side" quote from the top carriers in the industry.
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