Does Warren Buffett own long term health care insurance?

Answer 1

Long term care is NOT an annuity. It is a health insurance policy which provides both skilled and custodial care for policy holders. Instead of sending the client to a skilled nursing facility, a good long term care policy will provide both types of care at the clients home. Also, how is using someone else's money for your needs rather than spending you own money "not a good investment"? Insurance is about passing on the bulk of the financial risk. to the insurance company so you don't go broke in the event of an emergency. Health care costs is the number 1 reason seniors are declaring bankruptcy in America. A good long term care policy helps protect a client's assets. Instead of a person having to "spend down their assets", they can use an insurance company's money to pay for their post hospitalization care (long term care) and stay at home doing so. Have a Long Term Care policy for my wife and myself from Bankers Life & Casualty. Call your local Bankers agent to get more information.