Ask an Advisor: Our Long-Term Care Insurance Now Costs $500 Per Month. We're in Our Mid-70s and Have Paid $72k in Total. Should We Cancel Our Policies? Article

Ask an Advisor: Our Long-Term Care Insurance Now Costs $500 Per Month. We're in Our Mid-70s and Have Paid $72k in...

3 Months ago, Tue, Sep 19, 2023, 11:30:36

My wife and I bought long-term care policies 25 years ago when they were relatively cheap. Now, our premiums have increased for the third time to over $500 per month and will rise again in six years. I figure I’ve already paid about $72,000 in premiums....