Long-term care insurance is essential for seniors, especially when considering the significant costs of nursing homes, assisted living, or in-home care, which can fluctuate based on your location. As Todd Wolfe, Senior Insurance Associate, points out, "The cost of care can vary a lot by location, so if you live in an area with higher costs, you might require more coverage to ensure you can afford the care you may need."
Your health and finances should guide your coverage choices. Healthier individuals and those with more assets may need less coverage. Regularly review your policy with expert guidance, and consider stand-alone or hybrid policies, but remember that costs often rise with age.