I had to share this article from CNBC! Most people will need help with daily activities at some point and most receive the care at home. The most meaningful thing you can do for your family is provide them with help when the time comes so that taking care of you doesn’t fall completely on your family. Notice that the article says there are many ways to buy LTCi today, including the ability to have the premium go to your heirs if you never need care. Another important point that the article didn’t address is the ability to buy a policy that protects your assets from Medicaid spenddown equal to the benefits paid out if the insurance isn’t enough and you have to turn to Medicaid for help.
Link to Article from CNBC: