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Aug. 28, 2020, 2:06 p.m. EDT

There’s no good replacement for long-term care insurance

Alternatives also can be pricey and may not cover what you need

By Howard Gold, MarketWatch


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As I wrote last time, many fewer carriers are selling traditional long-term care insurance policies and premiums are higher than they used to be. People who bought those policies years ago recently have been hit with huge premium increases because policyholders held on longer than carriers expected and have collected huge payouts insurers hadn’t prepared for.

Right now, if you’re in your mid-50s and healthy, a typical individual long-term care policy would cost around $3,000 a year. Even without premium increases, that would be close to $100,000 over 30 years.

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