[Penny]

What do you think about the idea of long term care insurance? People are living longer these days, but I'm still skeptical about it. Pros and cons?

[MarySue]

I guess it would really depend on just what kind of coverage you are getting and if it is affordable. Sounds like a good idea to me. I would want to know that I had something like this for myself if needed.

[Frugal One]

For a person without much extended family, it might make more sense. If you think the resources you will have available by the time you are elderly would be sufficient, then maybe the money is better spent on something else.

[Maxine]

That's a good point to make. knowing you have lots of family around to help take care of you if you should need it can factor in paying for long term care insurance. You also can consider if this insurance would pay family members for taking take of you so it wouldn't be a burden on them financially. There are all kinds of policies out there.

[stoneten]

We have a huge family but I never want to be a burden either, we made sure very quick when we first got married to take care of our retirement. We put a good bit to invest into a fund strictly for emergence's when we get older. Still debating which insurance might be the best though.