By its very nature, each insurance product is unique and particular to each individual. A properly tailored insurance strategy may be properly tailored for your neighbor, but it might make absolutely no financial or coverage sense for you.
Keeping this in mind, we came across this intriguing article on the New York Time Blog that asks the question if long term care insurance makes sense for a younger demographic.
The findings and examples displayed in the article are quite interesting, and backs up the case that each individual really is unique regarding particular insurance requirements.
We encourage you to read the article on the NYT and ask that you leave us a comment at the bottom of our page sharing your thoughts.
"If young policyholders later decide that they can't afford or don't want to continue the insurance, they will have wasted all those premiums they paid since they don't accrue to your benefit the way they might with certain kinds of life insurance. (And …"
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At what age is long term care insurance appropriate for you? Do you have a relative or family member that is receiving long term care insurance? How old are they and at what age did they acquire the insurance?
Let our readers know by leaving a comment below. We are interested to hear from you!