Americans are living longer than ever and are now facing the important decision of whether to purchase long term insurance. Most people buy this coverage to help protect assets, preserve independence and provide quality care. A growing number of younger people are buying it to help their aging parents. In general, long-term care protection makes the most sense for people with a net worth of $100,000 t0 $2M. Those with less will likely exhaust their assets and qualify for Medicaid. Those with more can generally fund their own care if they choose to do so.
Here is some guide that you can read to help you decide the best care for your parents.
Discuss long term care insurance
Your parents must be healthy enough to qualify...Read More