Both types have benefits worth exploring now. Here's how experts say you can determine which is better for your needs.
As you age, your need for assistance, whether it be at home or in a nursing home or assisted living facility, increases.Given the prevalence of long-term care services being required, it's no surprise that long-term care insurance has become a staple in many financial plans. It provides coverage for a broad range of healthcare services, from skilled nursing care to therapies to assistance with activities of daily living .
Additionally, because traditional policies tend to be cheaper than hybrid ones, they're also a good option for policyholders who are on a budget but who still want protection in case their health declines and they need long-term care.'It also works well for those who can budget for annual premiums and are focused on securing high-quality care rather than building wealth transfer opportunities through their insurance,' says Burch.
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