Should you buy long-term care insurance?
Long-term care insurance pays for nursing home care, assisted living care and often home care. It is particularly important for our aging population; the statistics indicate that 70% of individuals over age 65 will one day need some form of long-term care. The expense of long-term care increases each year, with the cost of a nursing home stay in excess of $12,000 per month in Pennsylvania. After years of fading as a popular method to pay for long-term care, there are signs that long-term care insurance is trying to make a comeback. Long-term care insurance is typically purchased by ...