Long-Term Care Insurance: A Possibility but Not a Panacea

Long-term care insurance is one way to help pay the costs of post-acute and long-term care, which can be significant. Currently, about 7.5 million Americans have some type of LTC insurance. However, this is a pretty low number considering the over-65 population in this country tops 50 million. At the same time, people seem to be putting off obtaining this kind of coverage: 57 is the average age for purchasing a policy.