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TMF Pixy's article about the likelihood of needing a nursing home at some point in your lifetime is a real thought
provoker. Some additional things to consider: The people selling insurance coverage for nursing home care know that
a very high percentage of patients are suffering from some form of dementia, e.g., Alzheimers Disease, and most of
the policies exclude "mental illness". Since dementias generally result from some form of physical deterioration of the
brain, you need to make sure that the policy explicitly covers dementia. Second, since most of us have many years to
prepare for such an event, it is more prudent for us to invest our own money to cover the likelihood of such a risk.
Third, even if you don't have nursing home insurance, Medicaid will cover the expenses. Granted, this requires that
most of a person's assets be already gone, but there is no requirement that heirs be provided for. Besides, a person
with foresight enough to consider nursing home insurance can use early gifting to those future heirs and/or a
non-revocable trust (which must be effective at least 3 years prior to the disablement).

This is the misinformation I was discussing.

Can I come out now?
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