How Risky Is Buying a Limited-Duration Long-Term Care Insurance Policy?
More consumers are buying shorter-duration policies as a way to keep the cost of long-term care insurance affordable. For example, in 2009 almost one-third of individual buyers purchased a three-year benefit period policy, according to the American Association for Long-Term Care Insurance. But is that sufficient coverage or is the policyholder likely to run out of benefit dollars? According to a new consumer guide by the industry trade association, the risk of running out of benefits on a three-year policy
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