Do I Need Long Term Care Insurance?

Do I need Long Term Care Insurance?

Below is a simple self-assessment to see if you really need LTC.

Please answer all the questions honestly and objectively…

1. I want to live in my home as long as possible? YES                     No
2. I would like to remain independent as I get older? YES                     No
3. The quality of care I receive is important to me? YES                     No
4. When I need Long Term Care, I would like to have options of care providers/places? YES                     No
5. I don’t want to be a burden to family member as I grow older? YES                     No
6. I have had a personal experience making arrangements for someone in a nursing home? YES                     No
7. I believe needing Long Term Care as sometime in my lifetime could happen to me? YES                     No
8. I realize this is not an “old age” issue, that a Long Term Care event can happen to anyone…at any age? YES                     No
9. Protecting myself from losing everything I’ve worked for all my life is a concern to me? YES                     No
10. I would like to “safeguard” my family assets for my loved ones if something happens to me? YES                     No
11. An unexpected annual expense in excess of $100,000 would affect my family and me? YES                     No
12. My total assets are greater than $100,000 and less than $3.5 million dollars? YES                     No
13. I have done some financial planning? YES                     No
14. With Long Term Care costs exceeding $50,000 annually, I would run out of money within 4 years? YES                     No
15. I realize that as expensive as a Long Term Care event is now, I understand that costs are expected to triple over the next 20 years? YES                     No
16. I think Long Term Care is the BIGGEST unprotected risk to my life saving? YES                     No
17. I feel I could pay for my Long Term Care policy out of interest I receive on my savings? YES                     No
18. Long Term Care Insurance sounds like something I could benefit from if I could qualify for coverage? YES                     No
19. If I could own a Long Term Care policy and pay in an entire lifetime of premiums what would be the cost of less than one year in a care facility, it would make sense for me to insure myself against the uncertainty of needing Long Term Care? YES                     No
20. I don’t believe the Medicare/Medicaid will pay my Long Term Care? YES                     No
21. I want to receive Long Term Care benefits that are tax-free? YES                     No
22. If I could save a substantial amount of money in premiums, I would apply today? YES                     No


So, do I need Long Term Care Insurance?


To determine your score, please add up all of your “YES” answers…

Total of your “Yes” answers_______

15 or more…

          If you had a total score of 15 or more “Yes” answers – Everyday you procrastinate getting the “peace of mind protection” a Long Term Care policy provides, puts you at a greater risk of your health jeopardizing your qualifying! You should already own a Long Term Care policy! What are you waiting for?


          If you had a total score of 10 to 15 “Yes” answers – You should definitely submit an application today to see if an insurer would consider you an “insurable risk.”

Less than 10…

          If you had a total score of less than 10 “Yes” answers – You should re-examine your priorities to see what your alternatives are before committing to a Long Term Care policy.


Abe Glickman, LTCA, LTCP


Abe Glickman Insurance Group

Toll-Free Phone: 877-298-5824


“It is better to create a plan 10 years too soon than one day too late.”

Questions or Comments? Give me a call!