Most Americans who are ready to move into a long-term care facility need help selecting an appropriate one. If you're reading this article, you're probably one of the "helpers." You might be a son or daughter, who is trying to select the best facility for an aged parent. Maybe you're a parent, choosing a facility for an incapacitated son or daughter.
When recommending the purchase of long-term care insurance ("LTCI") to my clients, the most often heard response has historically been, "I don't want to have to pay the premiums for the rest of my life." For many 55 to 70 year olds, a potentially lengthy premium payment period is a psychological obstacle they are unable to overcome in making the decision to purchase LTCI.