Ignore Long-Term Care Planning at Your Peril
Long-term care insurance ought to be an easy sell to families facing the sandwich challenge. Aging parents can buy it for themselves to cover the costs for a lengthy nursing home stay, for assisted living or for a health aide at home a few hours each day. Or, adult children of parents whose income is limited could buy policies for their parents. That way, the children shield themselves from the cost of their parents’ care later. But something seems dreadfully wrong in the insurance market for long-term care.
