Phil's
Personal Finance Tip of the Day:
Should You Purchase Long-Term-Care Insurance?
From The Wall Street Journal
Mr. Cole is a senior staff attorney at California Advocates for Nursing Home Reform.
Long-term-care insurance. It's a subject most people don't want to think about—but many people know they need to.
At first blush, policies that help pay the costs of extended nursing care make perfect sense. Bills add up quickly when you can no longer take care of yourself and your needs exceed what family and friends can provide. Nursing homes, assisted-living centers and home care all are expensive, and there is no telling for how long you may need the service. Buying a long-term-care insurance policy can be a way of making sure your future physical needs will be met. Policies designed in partnership with state governments also give individuals and their families a way to protect savings in the event of burdensome care costs that stretch on for years.
To read the entire article from The Wall Street Journal:
http://online.wsj.com/article/SB10001424052702303425504577352031401783756.html?mod=WSJ_PersonalFinance_PF14
Live your life so that your children can tell their children that you not only stand for something wonderful – you acted on it. – Dan Zadra
at Dave Ramsey.com.
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