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A financial advisor told me that the average stay in a nursing home is less than 2 years. The policy I looked into covered up to 2 years--I would imagine the premium would have been much higher if they covered longer than that. Some of these policies also cover 'in-home' care, but there are maximum time limits on that coverage also.

Her own funds covered the huge costs for those 9 months, but there was little left at the end

The same thing happened to my friend's father--first he was in a minimum care facility for one year, and then 10 months in a nursing home, between the two almost all of his assets were depleted. Here in NY nursing home care is really expensive, somewhere in the neighborhood of $100K/year.

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