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December 21, 2006


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Those are interesting stats. After fielding questions about long-term care insurance enough times, I've come to an interesting realization: rich people don't need long-term care. If you have over a million dollar liquid, it's unlikely the insurance will prevail in a cost-benefit analysis. Similarly, households with $60,000 or less can't really afford the insurance and it can be psychologically taxing to try to pay for it. Long-term care falls directly on the middle class (like many other things) and is certainly an understated reality.

My thoughts as well, Russel. My money invested is likely to return enough to cover long term care if I need it. If I don't need to use it, it can go to my heirs. The risk is needing long term care at a much younger age than typical.

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