How Long-Term Care Insurance Has Become More Flexible

An older man in a wheelchair puts his hands in the air while a nurse pushes his chair in his apartment.

As people live longer and health care costs continue to rise, the need for long-term care (LTC) insurance has become increasingly important in retirement planning. This insurance has evolved significantly in the past decade. Before 2010, LTC policies were largely traditional, with a “use-it-or-lose-it” approach. Today, new product structures such as asset-based solutions and return-of-premium policies are available, offering flexibility, financial protection and even opportunities to fund long-term care with qualified retirement funds. So, what does this mean for your retirement plan?

How LTC insurance has changed