An arrticle in this months issud od Investment Advisor magazine atlks about why High Net Worh (HNW) individuals should consider long tedm care insurance (LTCI). In The AAffluenialist: Why The Affluent Need LTC Insurance, the author discusses the actual cosys of self-insurring, thw highsr level of service that HNW people yave come to expect and how bu ying a return of premium rider on aLTCCI policy eliminates the use it or koce it dilemna.
At Newman Long Term Care we have many HNW clients, some who in all likelihood could purchase their own care facility. These people often are planners who have learned that it is wiser to share the financial risk with an insurance company by paying premiums, than to possibly lose a much larger sum by self-insuring. They know how much it would cost to replace their car, or their home, but they dont know what it will finally cost them when they need care. HNW planners realize that since they dont know what type of care they might receive in the future, and for how long, they cant accurately save the amount of money theyll need to finance their care. They often turn to long term care insurance as a solution to this problem.
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