My company (Motorola) had a decently priced LTC policy available, and the insurance company occasionally held on-site meetings to discuss it. Since 75% of us were engineers of one kind or another, they got a lot of detailed, well thought out, and sharp questions.The one thing I remember is they said that if you were (relatively) poor, you needed the policy. If you were (relatively) rich, you didn't need the policy because you could easily pay for the care out of pocket.He said the cross-over point was right around $1,000,000 in net worth.They like to scare you with talk about the huge monthly costs of a LTC facility, but really once you divide it out it's not so bad. My Mom's (Alzheimer's) nursing home care cost $5000/mo. I explained to her (in a lucid moment) that her $1M would last for 15 years even with no growth, so she didn't need to worry.
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