In my opinion, long term care insurance is a waste of money. If you go broke, Medicaid will kick in. In fact, about 90 percent of the people living in nursing homes are on Medicaid. If the long term care insurance prevents you from going broke, it will benefit your heirs, not you. So, if your heirs want your money, then let them pay for your long term care insurance premiums. Also, annuities of any kind are a ripoff. They only benefit the people who sell them. The upfront sales commission on a typical annuity is about 10 percent.
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