“Letting an LTC insurance policy lapse,” by Karin Price Mueller, nj.com
“Q, My husband and I are 84 and 85 and we have had long-term care insurance for 17 years. The premiums are going up too much and we are on a fixed income, earning a little over $30,000 a year. We have a good amount of other assets, and we’re trying to decide if we should keep the insurance or cancel it.
— Tough decision
A. As you know, long-term care insurance can be a very important part of your financial plan.
You shouldn’t let the policy lapse without serious consideration.”
LTC Comment (from Davmon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform): Some welcome good advice.