Do You Really Need Long-Term Care Insurance?

There's a rule of thumb among financial experts when it comes to insurance: do not over-insure yourself and insure only according to your needs. For example, if you're still young and need a lot of high payout investing to do, then take out a term life insurance policy instead of a whole life policy. Which brings us to this point: when do you really need long-term care insurance? Assessing your need for long-term care insurance primarily depends on where you are financially. If you have a low income, you may want to stay at a nursing home and have Medicaid pay for your costs. (Medicaid is both a federal and state program that is currently paying for nearly half of America's nursing home costs. ...

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