Comments on Why You Need Long-Term Care InsuranceTypePad2006-12-21T17:24:00ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2006/12/why_you_need_lo/comments/atom.xml/Bill commented on 'Why You Need Long-Term Care Insurance'tag:typepad.com,2003:6a00d83451bcbd69e200d834d7e02553ef2007-01-16T19:16:27Z2008-08-29T00:32:21ZBillMy thoughts as well, Russel. My money invested is likely to return enough to cover long term care if I...<p>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.</p>Russell Bailyn commented on 'Why You Need Long-Term Care Insurance'tag:typepad.com,2003:6a00d83451bcbd69e200d835068d3169e22006-12-22T03:03:08Z2008-08-29T06:31:42ZRussell Bailynhttp://www.russellbailyn.com/weblogThose are interesting stats. After fielding questions about long-term care insurance enough times, I've come to an interesting realization: rich...<p>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. </p>