No. of Recommendations: 1
The problem with LTC is when to buy it. Buy it too soon and you spend a lot of money before you need too even though the rates will be lower. Try to buy it too late and you may not be able to find an insurer who will sell it to you at a price you can afford or even at all.

The other issues are:
1.) Will the policy be affordable until it is needed?
A problem is that as the premiums increase and discretionary income decreases with age, it may not be possible to continue to pay the premiums
2.) Will the policy cover enough to be useable?
To little coverage and the policy is useless
To much coverage and the policy maybe unaffordable
3.) Will the policy be maintained?
I have seen two issues:
as early dementia increases, policy holders either forget to pay the premium or become annoyed at it cancel it
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.