As the stock market continues its roller coaster ride, this seems like a good time to remind folks about the folly of self-insuring Long Term Care expenses:
Even though her #investments are down about 20%, my mother-in-law's #longtermcare insurance policy will pay the full cost of her assisted-living facility this month just like it did last month. #bearmarket #personalfinance #RetirementPlanning— Scott A. Olson, CLTC (@LTCShop) March 10, 2020
Thank you, @johnhancockusa! https://t.co/aVzSy4Nit2
That is, regardless of how the market does (or doesn't do), once you're on-claim, you're on-claim for the duration of your policy's benefit period.
On the other hand, if you've chosen to self-insure, that certainty becomes a lot less ... certain.
Just sayin'.
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