“Why Affluent Clients Need LTC Coverage”

“Why Affluent Clients Need LTC Coverage,” by Shawn Britt, Financial Advisor

“Many clients—and some advisors—think that insuring for long-term care (LTC) is something that is primarily needed by the middle class and that more affluent clients can afford to “self-insure.” In truth, affluent clients should consider purchasing LTC coverage as well. For purposes of this paper, “affluent clients” will be considered singles with a net worth of $1.5 million to $4 million, and couples with a net worth of $3 million to $8 million. This client group, who can generally afford better health care, are more likely to deny the need for LTC. But studies show that the longer you live the more likely you will need LTC, according to a 2016 report by Council on Aging, ‘Should I Buy Long Term Care Insurance?’; thus in reality, the good health these clients enjoy may bring a greater chance of needing LTC in the future.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Thoughtful observations by Center-Premium-Member and LTC Bullet guest columnist Shawn Britt of Nationwide.

Why Affluent Clients Need LTC Coverage

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