Gabe is 63 years old and walks with a cane due to a knee injury. He is concerned

Question

Gabe is 63 years old and walks with a cane due to a knee injury. He is concerned that he may need long-term care services some day in the future. His net worth is $400,000 and he receives $50,000 per year in a pension. Other than the knee, he considers himself to be in excellent health and has never had a serious health scare like a heart attack, stroke, or cancer. He eats a healthy diet and exercises regularly. Which of the following insurance coverage should be Gabe's priority? Ensuring his eligibility for Social Security Ensuring his eligibility for Medicare A long-term care policy with a long elimination period, lifetime benefits, and a COLA O d. Disability income policy A long-term care policy with a short elimination period, limited benefit duration, and a COLA

Explanation / Answer

c. long term care policy with a long elimination period, lifetime benefits & a COLA

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