It seems attractive on the surface. But elder law attorney Gene L. Osofsky of Osofsky & Osofsky advises that buying a limited-duration long-term care insurance policy entails inherent risks.<\/p>\n
Consumers are increasingly buying shorter-duration insurance policies as a remedy for making long-term care insurance an option. 2009 highlights the trend nicely. That year 32% of individual consumers purchasing a long-term care policy opted for a three-year benefit window, according to a report published by the American Association for Long-term Care Insurance. Will such purchases ensure sufficient coverage to the policyholder or allow benefit dollars to keep on keeping on?<\/p>\n
\u201cActually, the risk of running out of benefits on a three-year policy is quite modest,\u201d asserts Gene L. Osofsky, an elder law attorney with the firm of Osofsky & Osofsky, \u201cparticularly for men.\u201d<\/p>\n
Osofsky\u2019s perspective is supported by empirical evidence. According to a consumer\u2019s guide published by the industry trade association, the risk of \u201crunning (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" It seems attractive on the surface. But elder law attorney Gene L. Osofsky of Osofsky & Osofsky advises that buying a limited-duration long-term care insurance policy entails inherent risks. Consumers are increasingly buying shorter-duration insurance policies as a remedy for…<\/span><\/p>\n