Long Term Care Insurance: Do You Really Need It?

According to U.S. News and World Report, only 100,000 traditional long-term care insurance policies were sold in 2015, compared to 700,000 in 2000. People aren't buying long term care insurance policies for many valid reasons, but the increasing cost is the most common. However, 9 million Americans over the age of 65 needed assistance in 2012. That number is expected to grow to 12 million in 2020. Is there a way for millions of Americans to fund their long term care without buying an insurance policy? In this podcast episode, we join Gary Pozsik of Health, Wealth and Happiness to examine the true need and cost of long term care insurance, as well what your alternative solutions are.