Longevity and demand have made getting (and paying for) long-term care insurance increasingly difficult. But that doesn’t necessarily mean you should go without it.  

Here’s how to analyze whether you really need long-term care (plus an inventive way to pay for it).

 We rarely like to think about it, but needing long-term care is a reality that many will have to face. Long-term care (LTC) can come in the form of a nursing home, assisted living facility, skilled care by a nurse, custodial care, or even home health care provided by family members, but regardless of which path you take, you can rest assured of one thing: it will be expensive.

Long-term care costs an arm and a leg, no matter who is providing it. Which is why many turn to long-term care insurance policies for financial protection. Unfortunately, people soon discover that LTC insurance isn’t always the “easy solution” they hoped it would be. [Read more…]