Shorter Long Term Healthcare Insurance?

A report from the American Association for Long-Term Care Insurance suggests that for the majority of policy owners, three years of coverage is sufficient. With high cost of coverage the primary reason for not having coverage this study suggests that some coverage is better than none, and for most is all that is needed.

There are a couple of caveats you should consider. The study only includes individuals who actually purchased LTC insurance. For those with no coverage what would be the length of coverage they should have purchased? Secondly, is the population that can afford LTC coverage healthier than the group that could not or did not purchase coverage thereby making their need for long-term care less than the total population?

My feeling is if you need LTC coverage (cannot afford to self insure) you should buy the most protection you can afford. Leaves you with one less thing to worry about, so you can get on with enjoying your life.

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Technorati Tag Long Term Healthcare Insurance