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Reply to "Long term care insurance"
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[quote=Anonymous]Do not buy it. The long-term care insurance market is structurally insolvent because genetic testing now allows people to have better information about their risk level and purchase insurance accordingly. Millions of Americans have received 23&Me results about APOE4(Alzheimer's risk gene) carrier status and assuming even a small fraction of them act on this information it will bankrupt these insurance companies in the long-run. Premiums will need to go up or benefits will not be paid in full to compensate for this imbalance. IMO, it will end up being a waste of money and it is better to attempt to self-insure by saving more money instead. [/quote]
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