Continued advances in medical science and health care is causing the average life expectancy to increase. As more people live longer lives the need for having long-term care insurance is growing. There is a high chance that people living into a very old age will one day need expensive long-term care in a hospital, assisted living facility, or nursing home. This article discusses some of the ways that people can save money when shopping around for a long-term care insurance policy. People will save money on premiums if they get coverage at a younger age. It is also important to do extensive research and carefully compare prices between different insurance companies. This article also discusses how people can forego inflation protection or extend the waiting period for coverage to kick in. It is a good idea to get personalized advice from a retirement planner about long-term care insurance.
See Donna Fucaldo, How To Buy Long-Term Care Insurance Cheaply, Investopedia, February 23, 2016.
