• Question
  • Increasing Long Term Care insurance cost

    Asked on 5/25/2011

    Our Long Term Care insurance provider has notified us of a 15% premium increase to maintain current coverage. An alternative is to continue the current premium for reduced coverage. A final choice is to accept a paid up benefit (very small). How can we decide what to do?

  •  
  • Categories: Long Term Care Coverage, Health Care and Health Insurance, Health Issues

Answers

  • NewRetirement User

    60 year old from San Francisco, CA

    Get a FREE phone consultation
    with an advisor. Learn more...
  • Hi,

    In your situation it's probably wise to consult with a fee only financial advisor who can look at your entire situation and then make recommendations based on your needs (vs. how much they make in commissions).

    You can inquire for a free retirement consultation here:

    https://www.newretirement.com/free-retirement-consultation.aspx

    and then use our online calculator to get a sense of your overall situation and risks.

    Put your question into that form and the financial advisor can discuss it with you when they call.

  • Login to rate this answer:   Answered on 5/25/2011
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.