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Suze Orman and Long Term Care Insurance

The research process for Long term care can be daunting at times and we do our best to provide all of the information we can regarding this subject. With that said, we also understand the importance of finding information that supports our topic of interest so that our clients have a better opportunity at understanding the vast world that is long term care. Take for instance, Suze Orman, one of America’s top personal financial advisors who argues the importance of having a long term care insurance policy in place. This is because Suze Orman understands that LTCI is a vital family financial tool for anyone that desires a practical and secure retirement.

Suze Orman has been very forthcoming with her experience of the long term care industry and the challenges she faced while helping her mother through this phase of her adult life. In 1981 Suze offered to pay the premiums for her mother to have a long term care insurance policy in place however, her mother refused this offer stating she wouldn’t need it. Time and time again Suze filled out the LTCI paperwork for her mother and with each application her mother declined the offer. Unfortunately, her mother DID need long term care… Suze Orman ended up paying approximately $25,000 per month for her mother’s unending care in an assisted living facility that lasted over 7 ½ years. That is over 1 Million dollars in care costs that Suze paid out of pocket for her mother’s long term care services.

A noteworthy statement from Suze Orman, “considering how hard people work for the majority of their lives with an eye towards retiring, it’s surprising to find that many give little thought to actually funding and protecting their retirement.” 

Suze Orman touches on this fact and has gone above and beyond to explain the importance of how to protect your financial portfolio with long term care insurance in her books – You’ve Earned It, Don’t Lose It: Mistakes You Can’t Afford to Make When You Retire and The Road To Wealth. In her literature, Suze Orman says, “No well planned retirement should be without long term care insurance. It is the very cornerstone of retirement security.”

A question we beg to ask is, Is Suze Orman giving ample information? Suze is known for promoting long term care insurance policies from only one of America’s major players in the LTCI industry. 

We believe that long term care insurance is not a one size fits all product. Giving our unbiased opinion, we will provide you with side-by-side quote comparisons and an explanation of which product we think would suit your needs best. We represent our clients, not the insurance companies, and we do our very best to understand your situation so that we can help you safeguard your financial future.

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