Omar and Suzette are trying to decide whether long-term care insurance is right for them.

Omar and Suzette are trying to decide whether long-term care insurance is right for them. They both just celebrated their 75th birthdays and have very little left in their retirement savings accounts. Which of the following statements most applies to their situation?

A :Everyone should purchase long-term care insurance and they are no exception.
B : Long-term care insurance premiums are probably too costly for them to afford.
C : They are good candidates for long-term care insurance but should weigh the pros and cons before making a final decision.
D : They should focus on building savings for the future and consider purchasing long-term care insurance later.

Solutions

Expert Solution

C is correct

Long term care are generally very expensive.Given their financial condition, they probably can not afford it. So, it is for their best to be insured. But, the pros and cons must be analyzed before making the final decision of the purchase.

Rahul Sunny answered 1 year ago

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