Asset-Based Long-Term Care Insurance

In this Elder Law Minute, Wes Coulson discusses asset-based long-term care insurance and what that means for you.

Hi, I’m Wes Coulson and this is your Elder Law Minute. As an elder law attorney, I’m often asked if I think that buying long-term care insurance is a good idea. Traditionally, that’s been questionable because of the, what we call, the “use it or lose it” aspect of the insurance. You pay the in the premiums, and if you don’t need long-term care, you don’t get anything in return. The insurance industry has sort of recognized that problem and more recently they developed something call asset-based long-term care insurance. It’s a great improvement to me because there’s no more “use it or lose it” aspect. The money that you pay for the policy will be paid back to you with interest either as death benefits that are paid to your beneficiaries when you die, or as long-term care benefits during your lifetime, or as some combination. If you’re thinking about long-term care insurance, talk to us about it. It may be more attractive than what you’ve thought long-term care insurance is. Thanks!

For more information on Estate Planning, visit these articles:


“Your Trusted Advisor on the Elder Care Journey”

Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.