Long-Term-Care Insurance: First, You Should Find an Agent

THE WALL STREET JOURNAL

By 

Glenn Ruffenach

Feb. 4, 2021 1:00 pm ET

I’m thinking about buying long-term-care insurance. Can you recommend a particular insurer or type of policy?

Actually, your best first step is not to shop for a carrier or policy. Rather, it’s to shop for a knowledgeable, independent agent.

Before we get to the particulars, let me pause and emphasize how important this topic is. One of the biggest financial mistakes that older Americans make is failing to plan for long-term care: what type of help they might need, how long they might need it, and how they are going to pay for it.

I have spoken with many retirees through the years who simply are in denial (“I won’t need long-term care”) or are playing a waiting game (“I’ll deal with it when the time comes”). Both attitudes can put you and your savings at risk.