Everyone I talk to about long-term care insurance seems to have a different recommendation depending upon what they are trying to sell me. Is there any objective resource I can use to figure out what is right for me and my wife?
My partner and I have purchased this because we both have a family history with Alzheimer’s and dementia. We want to make sure we are set up for long term care and it doesn’t fall on our children or the other.
We just found a policy that my father (who died 13 years ago) bought for my mother — and have just been approved for retroactive payments back to 2017. This has extended my mother’s estate savings by about 3 years. The policy dad bought was John Hancock Long Term Health Care. It has been a godsend for us!
STRONG YES!!! My father in law bought LTC insurance in the late 80s and it saved us thousands up until his death earlier this year. I am 61 and my financial planner told me to dump all other life insurance and by LTC now ( our kids are grown and our mortgage paid off which is presumably what life insurance would have covered) for my later years. As a teacher I got a really great policy at a very low rate. I totally recommend this.