This evening I was talking with a client in Hawaii who casually mentioned a friend of a friend who was writing a story for New York regarding Long Term Care and the horrors of keeping our loved ones alive despite their best interests. It’s a strange situation we find ourselves in.
Wolff’s mother planned ahead and has a $6k/mo LTC insurance policy, but her care is $17,000/mo. So while it helps, it’s not covering all. To be fair, if he weren’t so successful, and able to pitch in the difference, her policy would help greatly to provide for her care.
References of the upcoming Cover Article:
Will our society continue to allow our elderly to merely dwindle?
What would you do?If care is costing $17,000/mo for a private apartment with 24×7 care, should one still purchase LTC Insurance at $6-$8k/mo benefit?