Long Term Care problems Solved
Ask the expert, Dennis H. Lentin

I think that if I save the money I need for care I would be better off not buying insurance, is that correct?

In a word NO. Let us say that you are 65 and that you will not become ill for fifteen years, and you would have paid a Long Term Care premium of $1200.00 per year. If you had invested that $1200.00 every year you might have $36,000.00 at the end of fifteen years.

At today’s rates help in a Long Term Care situation will cost you $36,000.00 per year. So what have you accomplished? You are now eighty, you have $36,000.00 and you need help. If costs stay the same you will be able to get help for a year and after that you may very well have to spend other money that you did not want to spend.

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Dennis H. Lentin
DL Financial Consultants
3852 Black Forest Circle,
Boynton Beach, Florida 33436