• Mia’s family has a history of cancer (parents).
• Tyler’s family has no major medical history.
Current Situation
Currently, Tyler and Mia do not have any long-term care insurance and they do not have any funds set aside for long-term care expenses.
Recommendations
I would recommend that Tyler and Mia wait several years and re-evaluate their needs when they are 50 years of age. While there is no immediate need for long-term care I would suggest that they start saving for long-term care insurance soon, purchase a 2 year fixed premium in their early 50s, and take advantage of available policy discounts.
If they enter an assisted living facility at 75 and stay 2 ½ years we can assume that in 33 years, the