Why Suze Orman Recommends Long-Term Care Insurance

Why Suze Orman Recommends Long-Term Care Insurance

Suze Orman, one of America’s most trusted personal finance experts, has long emphasized the importance of **long-term care insurance (LTCI)**. She’s blunt about it: **If you’re in your 50s or early 60s, healthy, and planning for retirement, LTC insurance needs to be part of your financial strategy.**

And here’s why.

 What is Long-Term Care Insurance?

Long-term care insurance helps pay for services most health insurance plans and Medicare don’t cover — such as help with daily living activities like bathing, dressing, and eating. This care may be needed at home, in an assisted living facility, or in a nursing home. Without a plan, families often face tough financial and emotional decisions.

In Suze’s words, *“You need this to protect your retirement savings and your dignity.”*

Suze Orman’s Key Points on LTC Insurance

Suze Orman has spoken widely on this topic in interviews, her podcast, and her books. Here’s what she emphasizes:

* **Medicare doesn’t cover most long-term care needs.** It only pays for short-term, medically necessary care.
* **The average cost of a nursing home is over \$100,000 per year.** And it’s rising.
* **Medicaid won’t help unless you’ve depleted your assets** — and then you lose a lot of control over your care options.
* **Self-insuring only works if you’re wealthy enough to risk losing hundreds of thousands.**

So, her advice is simple: **Protect yourself and your family. Get covered.**

What About a Life Insurance Policy with an LTC Rider?

Today, more people are opting for hybrid coverage: **life insurance with a long-term care rider.**

Here’s why that’s smart:

* If you don’t end up needing long-term care, your family still receives the life insurance benefit.
* If you do need care, a portion of the policy pays out early to cover those expenses.

Suze supports this combo option for those who want flexibility without wasting premiums.

When Should You Buy It?

According to Suze, the ideal time to buy long-term care insurance is **between ages 55 and 60**. Earlier than that, it might not be necessary. Later, premiums go up and approval becomes harder due to health issues.

Income Planning and Portfolio Balance Matter

At Mintco Financial, we don’t just sell policies. We create **balanced financial plans**. If one investment underperforms or life throws a curveball — like the need for long-term care — your whole future shouldn’t fall apart.

That’s why we focus on **total outcome planning**, not just one piece of the puzzle.

—

Why Work with Mintco Financial?

We’re independent fiduciary advisors, which means we work for **you**, not an insurance company. We’ve helped thousands of individuals and families create customized insurance plans that work in harmony with their retirement and investment strategies.

**Wherever you are, we can meet virtually and help you create a solid long-term care plan — before you actually need it.**