When Should You Get Long Term Care Insurance?

I’ve already talked about why you need LTC insurance. Even if you have a modest amount saved for retirement, you could quickly go bankrupt if you end up in a nursing facility. If you look at the statistics for end of life care, it’s startling. The average private nursing home room will set you back $74k per year. With most people staying 2 to 3 years, you’ll be out of pocket $200k or more. Fortunately, there is an insurance product...