New York state to promote LTC planning

New York state is going to do what it can to encourage residents to prepare to pay their own long-term care (LTC) expenses.

The state is setting up the program to implement an LTC planning bill that was introduced by state Sen. Jeff Klein, according to state Senate officials.

See also: New York state may promote LTCI awareness

The awareness program will recommend that residents plan for end-of-life care, think about the needs of the loved ones who might act as caregivers, and consider using life insurance or long-term care insurance (LTCI) as a financing vehicle, officials say.