In my work, I’m increasingly discussing with Baby Boomers how to pay for any long-term health needs they may incur in the future. For some, purchasing a hybrid long-term care policy is often a good solution.
Many of my clients in their 60s and 70s have seen firsthand the costly nature of long-term care as they deal with the needs of their own aging parents. For people with limited assets, a diagnosis requiring long-term care may cause significant financial hardship. In their cases, a traditional long-term care insurance policy will help cover their costs.