Jeffrey Brown

Should You Buy Long-Term Care Insurance? Maybe Not

Private long-term care insurance can be an important tool to protect against the risk of needing costly personal assistance in old age. But two respected financial economists conclude it is very expensive relative to the benefits it provides and may not be appropriate  for many buyers. At the same time, a new consumer brief from the Society of Actuaries  suggests how much wealth you should have for coverage to make sense.      The research paper from economists [...]

Why People Don’t Buy Long-Term Care Insurance

It isn't news that Americans are reluctant to buy private long-term care insurance. Only 7 million have policies and the market is essentially dead in the water. But why don't we plan for the risk of needing assistance at some point in our lives? After all, 7 of every 10 of  us will need care sometime after we reach age 65 and others will need it at [...]