Introduction

Like many successful individuals, you try to prudently protect yourself against risks that can put your financial security in jeopardy. These certainly are turbulent times. Market risk, interest rate risk, political risk. Yet the largest catastrophic financial risk for many people is the potentially devastating costs associated with long-term care.

It is so convenient to talk yourself into believing that it can't happen to you. Or, if it does, you'll "self insure" But the costs we're talking about, fifteen and thirty years from now, could exceed millions of dollars. Even if you could afford these costs, why put yourself and family members in harms way? Why worry about it? This is an insurable event. Do you insure your home?

Long-term care insurance may not only help you preserve your principal and income, but your dignity as well. Ultimately it may also help you preserve your right to make decisions about your money, and about your own care and well being.

Increasingly, high net worth individuals are purchasing long-term care insurance. Their issue may not be "need" in the strictest sense, but one of not wanting to be financially uncomfortable, or not wanting to lose principal. For these individuals, the insurance purchase is motivated by the fact that it is simply a pure risk management decision.