"Life insurance becomes less important to you because your obligations have been met," Horner says. "The bigger risk is about needing long-term care at some point. Any assets you accumulate and any retirement you put away -- all those assets are at risk."If you don't have long-term care insurance, you'll have to pay for your own care -- until you've exhausted your resources and qualify for Medicaid, the federal and state program for low-income families and elderly and disabled adults. Medicaid pays for long-term care at Medicaid-certified nursing homes.
Life Insurance Or Long-term Care: Make The Right Pick
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.