Long-Term Care Insurance: Higher Premiums for Shrinking Benefits

There's a 70% chance you'll need some type of long-term care. Getting the right insurance is more complex these days. Here's some guidance.

man lying in bed with intravenous injection is looking through window and wearing face mask at hospital
(Image credit: Getty Images)

Americans have plenty of reasons to dread buying traditional long-term care insurance. The policies are expensive, with rising annual premiums and so many different elements that shopping for one is overwhelming. "It can be a complex and oftentimes frustrating experience," says Tom Beauregard, founder of HCG Secure in Goshen, Conn., which sells long-term care insurance with a focus on aging at home.

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Contributing Writer, Kiplinger's Personal Finance

Alina Tugend is a long-time journalist who has worked in Southern California, Rhode Island, Washington, D.C., London and New York. From 2005 to 2015, she wrote the biweekly Shortcuts column for The New York Times business section, which received the Best in Business Award for personal finance by the Society of American Business Editors and Writers. Her work has appeared in numerous publications, including The Times, The Atlantic, O, the Oprah Magazine, Family Circle and Inc. magazine. In 2011, Riverhead published Tugend's first book, Better by Mistake: The Unexpected Benefits of Being Wrong.