Long-term care insurance not always best option

By Jim Miller, Special to the Star-Advertiser

Dear Savvy Senior: My wife and I have thought about purchasing a long-term care insurance policy, but we hate the idea of paying expensive monthly premiums for a policy we might never use. Is there a good rule of thumb on who should or shouldn’t buy long-term care insurance? — Getting Old

Dear Getting: There are two key factors you need to consider that can help you determine whether purchasing a long-term care insurance policy is a smart decision for you and your wife. One factor is your financial situation, and second is your health history. Currently, around 8 million Americans own a policy.

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