Long-term care insurance may be more of a necessity than some people think. The statistics say that almost 75 percent of senior citizens in this country, including in Texas, will need some form of long-term care prior to death. The cost of the insurance and the care itself are continuing upwards. However, there are a variety of products on the market that may make the choices easier for those wanting to devise a long-term care plan via partial or complete insurance funding.
One key to effectively planning for long-term care is to coordinate the available benefits from government programs with other estate planning tools. Unfortunately, though, coordinating in this way can be complicated, and many people wait too late to begin planning for their long-term care.