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|Subject: ScaryStuff on Long-term Care||Date: 2/27/2004 11:02 AM|
|Author: intercst||Number: 39498 of 76418|
Here's a few quotes from the article.
"Long-term care insurance is great for the middle class, upper middle class and wealthy," said Stein. "It's questionable for the lower middle class and not needed by the poor."
But it depends what you mean by wealthy. "A lot of people think of themselves as wealthy," Stein said. "To me, if you have $1 million-$2 million, you're not wealthy."
If you plan an early retirement, say at age 45, with $2 million, you're not wealthy at all, says Stein. "You're in a risky situation."
Very scary stuff until you realize.
Stein sells policies from 11 different insurers and consults on long-term care.
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