Phyllis Shelton. Protecting Your Family with Long-Term Care Insurance. LTCi Publishing, Hendersonville, TN. 2013. 360 pages.
Long-term care is expensive and only getting more so. That is why everyone needs to consider buying long-term care insurance, according to this newly updated book that explains exactly how this type of insurance works and why it should be part of any financial plan.
Author Phyllis Shelton has spent 25 years as a long-term care insurance consultant and she is passionate about the need for people to think about their long-term care needs.
Shelton argues that people are in denial about whether they will need long-term care and how they will pay for it. She contends that purchasing long-term care insurance isn't about you—it is about protecting your family. The book details the various long-term care insurance products available, including hybrid products that combine annuities and life insurance with long-term care insurance. It also discusses the relatively new long-term care insurance partnership policies that allow purchasers to qualify for Medicaid and retain some assets.
Shelton explains how to find the right long-term care insurance policy as well as how to make a claim. Unfortunately, not everyone can afford or qualify for long-term care insurance and Shelton reviews alternatives such as reverse mortgages, continuing care retirement communities, and veteran's benefits.
Protecting Your Family with Long-Term Care Insurance is particularly timely because it brings readers up to date on the latest changes and strategies available in long-term care insurance. These updates are identified by "Consumer Alert" symbols sprinkled throughout the book.
For more information about long-term care hybrid policies, click here.
For more information about partnership policies, click here.
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