When long-term care insurance isn’t the answer

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Many of the advisors who contribute to NJMoneyHelp.com will tell pre-retirees to consider long-term care insurance.

That’s because the cost of long-term care can financially devastate a family that otherwise would have been able to afford a comfortable retirement.

But a new study suggests new reasons to consider opting out of these expensive policies.

Boston College’s Center for Retirement Research found that long-term care policies make sense for fewer people than previously thought, and that the need for care, and the overall cost, has been overstated in the past.

That doesn’t mean you should say no to coverage. There are lots of families who would benefit big time.

Read more about the findings here. It’s worth the click.