Long-Term Care Insurance for Dementia: When It Pays, When It Does Not, and Alternatives
Frank, a 78-year-old retired teacher in Sarasota, bought a long-term care insurance policy from Genworth in 2003 when he was 57. He had watched his mother’s Alzheimer’s progress through eight years and a $340,000 nursing home bill. The policy promised $200 daily benefit, 5% compound inflation rider, lifetime benefit period, 90-day elimination. Premiums were $2,800 … Read more