Is long-term care insurance right for you?

MONTPELIER, Vt. (WCAX) - Is long-term care insurance right for you and your family?

This week, WCAX News has been exploring long-term care insurance and why some seniors are seeing big rate increases.

The Vermont Department of Financial Regulation says the products can be valuable for the right people.

If you’re thinking about buying a plan, they say it’s an economic analysis you should talk about with your family and your financial adviser.

Financial Regulation Commissioner Mike Pieciak suggests you take into account any assets you want to pass onto your kids and whether it’s worth paying the premiums.

“What will retirement look like? How will we live on our income? What will health insurance look like? And if we need long-term care, what will that plan look like and how will we finance it?” Pieciak said.

Regulators and advocates say it’s never too early to start these planning discussions with your loved ones.

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