4 Questions To Ask When Shopping for Long-Term Care Insurance

About retirement, author Stella Rheingold said, "Congratulations on making it over all the hurdles and reaching that wonderful time of life where you get to do whatever you want." If only the retirement years were really that magical. Retirees today have their fair share of worries -- including the problem of managing unexpected healthcare expenses.

Planning for healthcare costs can be daunting. According to a 2019 Genworth study, monthly costs for long-term care range from $4,385 for a home health aide up to $8,517 for a private room in a nursing home. Few people have the resources to budget for those kinds of expenses.

So, what are the alternatives? Cross your fingers and hope you don't need long-term care, or buy long-term care insurance. Unfortunately, long-term care policies are complicated and expensive. Make sure you're positioned to make the right decision by asking these four questions.

Source Fool.com