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.
Many say that an analysis of risk should be the first step of the financial planning process after you’ve compiled your financial statements and enumerated your dreams, goals and objectives. The reason for starting with risk is because the occurrence of an unplanned risk may prevent your best laid plans from ever having a chance to become reality.