Is Long Term Care (LTC) Insurance A Good Thing?

If people are in the market to purchase long term care (LTC) policies, as I would do myself, I would ask the long term care insurance company that I’m considering buying from to give me a prototype of the policy. I’ll be happy to read it for people and let them know if it’s a good policy or not or if they could possibly have problems down the road with it. I don’t really want to promote any particular company because it’s not what I do. I promote buying long-term care for sure. I think it’s a critical thing to have and I’m just telling people that from my own experience.

I remember when my father was in the process of buying his long term care insurance. We were working together as attorneys in the same office. I could still picture the broker coming into the office and meeting with my dad and I was asking my dad what is this man doing here? What does he want from you? What’s he trying to sell you? My father told me it’s a long-term care insurance policy. Well what is that? He responded, “well if I ever need an aide or a nurse or something the insurance covers it”. I looked at my father and said you don’t have to buy that because if something God forbid ever happens to you I’ll take care of you. He gave me his smile and he signed on the dotted line and bought it because he didn’t want to be a burden. I guess he had the wisdom and foresight to say that this is something he might need down the road. So from my own experience I can tell everybody to inquire and get some long-term care insurance.