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Kiplinger
Kiplinger
Business
Victoria Larson, RICP®

I Have Plenty of Money: Why Do I Need a Long-Term Care Plan?

An older woman has an unsure expression on her face as she looks at her laptop at her dining room table. .

It's a question we hear often from financially confident retirees: "I've done well. I have more than enough saved. Why would I need a long-term care plan or long-term care insurance?"

We get it. For many, traditional long-term care (LTC) insurance feels like a gamble — you pay in and hope you never use it. If you don't end up needing care, it can feel like wasted money.

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