Many times over the years I’ve written about long-term care insurance, and it still blows me away how many people say that this coverage is a waste of money. I’ve heard it from readers, accountants, attorneys and financial advisors.
The only ones who want LTC coverage are the families who have been squeezed by the very difficult decisions in providing long-term care for a loved one or the agents who sell the policies.
In the course of a financial planning engagement, most people want to talk about their financial future, dreams and visions. During a year like 2013, the discussions get slanted to bragging about investment returns and what is working well in your plan. A qualified planner, however, is trained to go beyond your overconfidence as an investor and ask “what can go wrong with this picture”?