Long-term care insurance is the most practical way to pay for long term care. You can protect yourself from the devastating cost of long term care and avoid becoming a burden to your family by purchasing this insurance product. In addition to this efficient product, there are also other ways to pay for long term care, which is perfect for people who don’t have budget and it’s already too late for them to get coverage.
Here are different long term care insurance alternatives to choose from:
1. Viatical and Life Settlements
2. Accelerated Death Benefits Rider
3. Home Equity Conversion Mortgage (HECM)