A Primer on Insurance Products
by Peter Katt
This column provides practical commentary on insurance products, issues and planning that I frequently encounter. I hope you can use it as a quick check to see whether the insurance or proposals you encounter make sense.
Long-Term Care Insurance
Long-term care insurance is a risk management asset designed to protect against the costs of needing care during old age. However, these policies do not cover medical or critical care situations. Long-term care workers assist insureds with the difficulties of daily living activities. Many plans pay a stipend, so it doesn’t matter whether the care is received in an institutional or home setting.
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