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What risks are there with long-term care insurance?
GaleEncyofSurgery
Long-term care insurance policies can be expensive and may be restrictive in what they provide. Before purchasing the policy, persons should be certain.
The only risk is your monthly premium that you pay, you can cancel the policy at any time. However, this far outweighs the cost of having to pay out of pocket for caregiver services if you didn't have a policy.
Wiki User
∙ 12y ago
Some risks with long-term care insurance include premium increases over time, potential limitations on coverage, and the possibility that the policy may not fully cover all long-term care costs. It's important to carefully review the policy terms and understand the exclusions and limitations before purchasing long-term care insurance.
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