In this episode, we talked about long term care insurance with Fred Thorban.  Fred started his career in the insurance industry in 1990 and has been working with MVP Financial Services since 2007.  We started the conversation by asking: what is long term care insurance?  Fred gave a brief history lesson and told us that when it all started back in the '70s, because it was so new, insurance companies didn't know how to price it correctly.  They used life insurance for reference as for the data and model.  As a result, clients who bought back in the '70s and '80s had a 40-50% premium increase later in life.  However, right now, according to Fred, is the golden age of long term care insurance.  It’s priced fairly well, and all benefits you will receive later are tax-free.  He talked about the traditional long term care policy and the new combo version and the benefits of it.  Dan and Fred discussed how to use your policy when you need to.  Tim mentioned the ever-increasing health cost, and Fred gave us some numbers to think about.  To summarize it all, Fred said, you need to start the conversation and planning now, no matter how difficult and scary it is.