GO
Loading...

CNBC Poll: Would You Buy Long-Term Care Insurance?

As Americans live longer, long-term care insurance has grown in popularity over the years. The option allows seniors and family members to offset costs associated with retirement — everything from daily tasks like cooking to full-blown assisted living care and housing.

Reggie Jackson in the 1977 World Series.
Reggie Jackson in the 1977 World Series.

Does the insurance sound too good to be true? It depends.

Premiums for long-term care insurance aren't always cheap. And during the past few years, insurers have exited the sector because they underpriced premiums and Americans are living longer — raising the costs.

Deciding on long-term care insurance also depends on whether family care is part of the mix. Long-term care insurance typically prohibits policy holders from compensating family members, who provide care.

Another growing option to help pay for long-term care is life insurance with a long-term care rider. The optional rider benefit on variable universal life insurance policies allows individuals to use death benefits to help defray costs associated with chronic illnesses.

What about you and your family? Are you considering long-term care insurance an option?

Vote
Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

Latest Special Reports

  • A logo sits on a sign at the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 23, 2014.

    Coverage of the 2015 World Economic Forum’s annual meeting in Davos, Switzerland.

  • NYSE traders

    Go inside the world of exchange-traded funds with CNBC's coverage from the ETF industry's biggest event of 2014.

  • Advisor-centric content with guest columns covering practice management, investment strategies and marketing/social media.

Retirement