When addressing the issue of longevity as in the Nov. 15 article Women face a key investment challenge: longevity, it’s essential to discuss the importance of long-term-care insurance. This is our largest exposure.
Statistically, there’s a 70-percent likelihood that we’ll need care, and its expense can wipe out one’s life savings, despite helpful financial planning, as Andrew Menachem suggests.
Other than the cost of long-term care, there’s nothing else that can involuntarily make us lose our life savings and our independence.
Talk about longevity? It helps protect us against living too long.
Never miss a local story.
Long-term care was not mentioned in the article, and not considering it as part of an overall plan is irresponsible.
Arthur Cohen, Miami