Tending to a parent’s long-term care needs is a stressful process. Your parents probably never thought they would have a need of long-term care. You now know how real the need is and that it can happen to anyone. What could your parents have done differently?
Long-term care insurance is an option and a costly one at that. In most cases, if you don’t need long-term care, you will lose all the premiums you’ve paid. Insurers are pulling out fast and those that stayed are having huge premium increases.
Where does that leave you?
Hybrid long-term care policies may just be the answer. These were created to meet the needs of those concerned about the future care costs, but also unable to afford the high premiums of traditional long-term care insurance policies.