They're not dodging their tax obligations. It's just the way the US tax code works. This year, an estimated 45% of tax filers — or just under 79 million households — are likely to have zero federal income tax liability, according to the Tax Policy Center.
So how do you know when you should plunk down the extra cash and buy insurance? In general, I would argue there are only three types of situations in which you should do so.
Americans long viewed 65 as the age to stop working. It was considered full retirement age by Social Security for many, Medicare benefits kick in then and historical practice had established it as the goal. Now some experts are suggesting people set their sights a bit higher — on 70.
Buying long term care insurance is about risk management. It boils down to how you answer these four questions: