DELAWARE INSURANCE DEPARTMENT

Should I buy Long-Term Care Insurance?

Long-term care insurance is not a good buy for everyone. If you have significant assets you wish to protect and income that will allow you to pay premiums without financial difficulty, long-term car insurance may be right for you. However, if you have a limited income or have trouble stretching your income to meet financial obligations, such as paying for rent, utilities, food, or medicine, you should not buy a policy. People with very limited income and assets may qualify for Medicaid's Long-Term Care Services Program. The decision to purchase long-term care insurance will depend on your health, age, overall retirement objectives, and your income. you should discuss this purchase with a family member or financial advisor. Use the "Shopper's Guide to Long-term Care Insurance" which includes a policy comparison worksheet, available to you from ELDERinfo (800)336-9500 or call ELDERinfo for information on Medicaid.