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| Illustration: Rednose Studio |
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Pursuing Peace of Mind
return to article Is the security of long-term care insurance worth the expense? Those lessons are pointing a growing number of boomers toward long-term care insurance, an intriguing idea designed for this brave new world where many more Americans will live until they need help just to get up and dressed in the morning. About 7 million people now have these policies. First sold as nursing home insurance in the 1970s, and purchased mainly by people in their 70s, long-term care policies today can cover a range of services, including extended care at home or in an adult day care center as well as in an assisted living residence or nursing facility. Some even cover home modifications. Benefits are usually triggered when a person cannot perform at least two key daily activities, such as bathing or dressing, or is cognitively impaired by Alzheimer’s or another form of dementia. |
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