Longterm care insurance is not a smart purchase for everyone. If you have significant assets you wish to protect and income that will allow you to pay premiums without financial difficulty, longterm care insurance may be right for you. However, if you have a limited income or have trouble stretching your income to meet financial obligations, such as paying for rent, utilities, food, or medicine, you should not buy a policy. People with very limited income and assets may qualify for Medicaid`s LongTerm Care Services Program. The decision to purchase longterm care insurance will depend on your health, age, overall retirement objectives, and your income. You should discuss this purchase with a family member or financial advisor.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified health insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local health insurance attorney to discuss your specific legal situation.