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Published: Apr 4th, 2017

Suze Orman: Funding Your Long-Term Care Insurance

Suze Orman: Funding Your Long-Term Care Insurance
Article Updated:October 14th, 2019

Suze Orman has been called “a force in the world of personal finance” and a “one-woman financial advice powerhouse” by USA Today. A two-time Emmy Award-winning television host, New York Times mega-bestselling author, magazine and online columnist, writer/producer, and one of the top motivational speakers in the world today, Orman is one of the most recognized experts on personal finance. She is also a big believer in planning for the financial costs and burdens of aging.

For a very long time, she has promoted the need for having a long-term care insurance policy. These plans are very affordable especially if you are in good health and younger. However new products exist where you can move existing money and have both a plan for long-term care and get your money back if you are lucky enough to never require extended care. These are called asset-based or “hybrid” policies.

Suze discusses these plans:

Several Types of Long-Term Care Insurance Exist

No matter what type of plan you get, a traditional LTC insurance policy, a partnership policy with additional dollar-for-dollar asset protection, a hybrid plan like Suze wrote about or even smaller “short-term” plans, having an affordable way to address the physical, emotional and financial burdens placed on family is essential to your future retirement plan.

Affordable Long-Term Care Insurance plans will protect your savings and provide peace-of-mind knowing you will never burden your family. Ideally, plan before you retire as you have the most options available. Always work with a specialist in long-term care insurance. Most insurance agents and financial advisors don’t have the expertise or experience in this area.