re: Long term care insurnace policies

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Yes, my wife and I both bought long term care policies when we were in our early 30’s. We set it up to pay $200/person/month for 20 years, from age 30-50. We went with “Lincoln Moneyguard Market Advantage” because it allows for market growth in the policy to grow the Long term care benefit. Also, if we die, we get a life insurance payment.

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Food for thought and everyone’s risk tolerance is different, if you put this into a retirement account with 6% growth at 75 it would be $250,000 or more.

Paying for the insurance costs something, and it usually costs A LOT. Ultimately if you take it out of contributing more to your retirement, it comes out of your retirement one way or another.

Insurance companies like to roll things up into bundles so it looks like a better value but you are ultimately likely paying more and more for it all.