Q. If I have Medicare and Blue Cross/Blue Shield, is there any need to obtain long-term care insurance? A. There might be a need since Medicare and BC/BS medical insurance provide very limited benefits for long-term custodial care.
Browsing: long-term care insurance
Q: Can you explain what you meant when you said to buy just enough insurance so that the probability of exhausting the policy benefits is between 10 percent and 20 percent? A: It is possible, although not necessarily easy, to estimate the probability of spending a given amount of money on long-term care insurance during your lifetime. A long term care insurance policy typically contains a lifetime limit on the amount of money it will pay. The goal is to buy enough insurance to reduce the probability of spending more than the amount of insurance on long term care during…