Long-Term Care: To purchase or not to purchase...that is the question!

I recently had a question about whether to purchase Long-term Care (LTC) Insurance. This came from a fairly young adult and therefore, there were many questions if to purchase it at a young age. My parents recently have purchased LTC policies (at an older age) and it was quite the learning experience. One of the best pieces of advice I received was: Choose a strong A+ insurer who will be around for the next 50 years! This is vital with LTC since you might not need the service for years to come. LTC is one of the most used insurances in the industry and hence, the premiums can be quite a bit more expensive. Therefore, it's important that you balance price with benefit. Every situation is different, and I highly recommend you speak to a LTC specialist about your specific situation. In the meantime, here is the government's National Clearinghouse on LTC. Happy shopping!