New Retirement: Long Term-Care Insurance – CNBC – 11/24/10

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The benefits of long-term care insurance can be critical in the “new retirement,” reports CNBC’s Sharon Epperson

Jane Seger purchased Long Term Care Insurance

Her mother has Multiple Sclerosis (MS)

Seger says, “It’s fairly reasonable; it’s a lot less than health insurance.”

Sharon Epperson (CNBC Business News) says, “There is genrally no guarantee that insurance rates won’t rise over time, but waiting until your 60’s or older to buy a policy will certainly cost you more.”

Ken Dychtwald (gerontologist) says:

“Are you prepared to ask your children to take time off of work to cook you dinner?”

“Are you prepared to ask your grandchildren to give you a bath or take you to the bathroom?”

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