Here’s the premise. Take about a dozen boomers from around the same economic and education level, all married, grown children, mid-to-late fifties, and put them in the same neighborhood. Give them each about 50K to spend. Let them decide whether to spend it on savings, fun cruises or long-term care insurance. That is the first elimination round. Only those who put it into long-term care insurance get to continue.
For the rest of today's blog, continue at The Boomer Blog
The boomers then compete as individuals doing everyday life and work tasks. These are primarily games of chance. If someone is exceptionally lucky, they get lifetime “immunity” and therefore will not be eliminated from the game this round. Everybody else is given some chronic or acute illness.
Now here’s the kicker. There’s two ways to win. If the boomer lives long and never needs to be institutionalized (or given any kind of nursing or home health care), that’s one way. If the boomer dies fast, also with no need for the above, they also win.
Oh, I hear you muttering about how you could call the latter winning? Well, you are assuming that the contestants are the boomers, themselves. But no! The contestants in this mortality reality show are the long-term care providers.
Want to apply to appear? If you are over 50, applications can undoubtedly be found in your mailbox today.
Carol Orsborn
Comments (2)
What about those of us who would spend the money on taking care of our own aging parents? There are many boomers out here in that situation.
Posted by Beverly Mahone | July 16, 2007 12:06 PM
Posted on July 16, 2007 12:06
Great blog.
The funny thing about long term care insurance is that the price of a policy can vary a lot from one insurance company to the next. I learned that each long term care policy has a different way of charging premium based upon health history, marital status, choice of benefits, and even state of residence. It pays to shop. I found this website very helpful:
http://www.ltcinsuranceshopper.com/
WW
Posted by W. Wright | July 17, 2007 1:17 AM
Posted on July 17, 2007 01:17