When you buy long-term care insurance years before you need it, you are taking a gamble that the company will still be around...Read more
What's Your Long-Term Care IQ?
- October 5th, 2004
Most Americans lack a basic understanding of long-term care, according to MetLife's Long-Term Care IQ Test, a new national poll testing Americans' knowledge about long-term care insurance and long-term care related issues.
Only about one in three Americans (37 percent) between the ages of 40 and 70 have the information they need to help them make decisions about long-term care planning, MetLife found. Only 2 percent of the 1,500 online respondents who took the test received a grade of "B" or better; 7 percent earned a "C" grade; and 28 percent barely passed the test with a "D". The rest, 63 percent, received an "F."
The cost of long-term care is one of the areas where Americans have the greatest gaps in their knowledge. Most not only lack a good grasp of how much services will cost, but who will pay for them, as well. The test also revealed that most Americans don't understand how long they are likely to live, or the chances that they will need long-term care.
We have intentionally not supplied any hints about the correct answers to these and other questions so that you can take the test yourself, and we encourage you to do so. Go to: www.metlifeltciq.com/quiz (Note that question 5, relating to the annual cost of a nursing home stay, is based on last year's figures.)
MetLife also offers a Retirement Income Quiz. Go to: http://188.8.131.52/metlife
Local Elder Law Attorneys in Ashburn, VA
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Hale Ball Carlson Baumgartner Murphy PLC
Attorney Samantha Simmons Fredieu is an associate at Hale Ball. Ms. Fredieu graduated magna cum laude from Vermont Law School where she was the symposium editor on the Vermont Law Review, a production editor on the Vermont Journal of Environmental Law, and a member of the Moot Court Advisory Board. She has clerked for...