“Long term care insurance requires a long term financial commitment. Many people think that insurance companies take advantage of payers with regular increases in prices. In this interview, the president of Thau Incorporated, Claude Thau, explains how long term care insurance works and why making contributions now can secure your future.
Thau discusses the history of long term care insurance. He explains how the monetary reserves pay out to participants and why a lapse in coverage creates challenges. Thau also presents the insurance market’s approach to long term care.
People face many challenges in saving for retirement. Choosing not to buy long term care insurance can make retirement an even greater challenge. Funds that were saved for travel or living expenses can quickly disappear when long term care becomes necessary. Thau urges people to plan for their future by considering long term care insurance and the benefits it can bring to individuals and their families.