Feb 4, 2016

Many people hear the word “long-term care insurance” and think “nursing home.” The thought often ends there. Few want to end their life in a care facility, so why would they buy a product that enables them to do only that—wind up in a nursing home? Therefore, many people drop the idea or put it far on the back burner.

In reality, most people don't end up in an actual nursing home at the point that they start slowing down. All of us one day will face the prospect of needing some assistance with basic activities of daily living--but it all starts in your own home. Most people would prefer to stay in their own for as long as possible. It gets expensive, however. Care givers cost money. In fact, in home full time care can cost $8,000 a month on average. In home benefits are much more important to consider when you are looking at covering long term care contingencies in later life.
So, should you be buying an actual long term care policy? Is it worth it? And what are the alternatives? The good news is that there are a number of less expensive alternatives to long term care insurance. Steve and Sinclair review.

In the Q & A segment, estate planning attorney Richard Dwornik joins the A-Team to discuss the rising trend of pre-nuptial agreements for those remarrying in retirement.