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8. A Harvard University study showed that 69% of single people and 34% of married couples would exhaust their assets after 13 weeks in a nursing home. 13 Weeks = 91 days!.
7. At age 65, a woman has a one out of two chance of spending some time in a nursing home. A man has a one out of three chance. In the case of men, mortality catches up with
morbidity.
6. Medicaid kicks in only after a person's assets and dignity are gone. In many states the eligibility threshold for single people is $1,500 in assets. After all Medicaid is WELFARE.
5. Children would like to help, but children often have children of their own. They certainly can't quit their jobs to care for their parents.
4. Health rarely improves with age.
3. People can't buy long-term care coverage at crisis time or when they are ready to use it.
2. American's have access to the best health care in the world, if they can pay for it.
1. Most People want to choose where they go instead of having to go where they are taken, and if independence is important to them, they will need to have either a big estate or adequate insurance.
Information quoted directly from:
* A Shopper's Guide to Long-Term Care Insurance , National Association of Insurance Commissioners.
* Long Term Care Companion Consumer Guide, Transamerica Occidental Life.
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