Long-term Care Insurance policies are popular with our aging population. And for good reason. If you have sufficient funds right now, you can ensure that there will be enough money to pay for any long-term care you might need in the future.
Typically, these policies are purchased with a view towards assisted living facilities or nursing homes. But that may be changing.
A recent report in Kiplingers revealed that at the beginning of 2018, more than half (51%) of the claim being paid were for home care. In fact, it’s pretty much expected at this point.
While traditional long-term care policies have been fairly restrictive in the kinds of care they provided, more and more hybrid policies are now available. While costlier than traditional LTC policies, they offer more flexibility in the way they are used.
To read the whole Kiplinger report, visit https://www.kiplinger.com/retirement/601403/insurance-for-long-term-care-at-home.