Last updated: August 28th, 2015

Who needs to purchase Long Term Care Insurance?

Purchasing Long Term Care Insurance is a wise option to protect against the financial, emotional, and physical consequences of likely long term care needs.

Long Term Care Insurance is right for individuals who:

  • Are reasonably healthy.
  • Have health conditions that have been stabilized or resolved, such as cancer, heart disease, joint displacement, osteopenia, etc.
  • Want access to a private pool of money that is available to pay for private-pay care in any setting maintaining independence and dignity.
  • Do not want to burden their children with the costs/demands of long term care.
  • Have a spouse who is older or deceased.
  • Have an uninsurable spouse.
  • Have financial assets beyond a Social Security benefit.
  • Itemize medical expenses qualifying for federal deductions.
  • Are a business owner and benefit from federal deductions.
  • Single, widowed, or divorced women.
  • Are in a second marriage or blended family.
  • Have a family history of Alzheimer’s or Parkinson’s.

If you meet any of the above criteria, Long Term Care Insurance may be an appropriate consideration.

To learn about the options that are best for you, your loved ones, or your employees, contact us at 516.801.1419 or info@KarpLoshak.com.