Is Long-Term Care Insurance Really Necessary? – Doug Davies

se we love. Take a look at where your last few year will lead you. There are many Americans stay in nursing homes during their final years. These stays could be expensive, costing hundreds of thousands of dollars per individual. This is most people also require long-term care insurance. But you might not have the same situation as many. There is a chance that you have been contemplating whether or not to cover your expenses in a facility for nursing. In this clip we will discuss whether you’ll still require long-term-care insurance from your insurance agency or not.

Self-insured status is largely determined by your financial situation and income. The best estimate is that you would require $300,000 in order to residence in a nursing home. Include $300,000. If you are staying with a partner who will be at home with you, there is another $300,000. The cost could be as high as $600,000. So, you’ll have to have a total value of at least $600,000 . You could even consider self-insuring your own long-term care. For you to have the funds for unexpected costs, or prolong your stay it is recommended to have greater than one million.


Leave a Reply