Page 18 THE REVERE ADVOCATE – FRIDAY, OCTOBER 17, 2025 Is Long-Term Care Insurance Worth It? 1. On Oct. 17, 1919, RCA was incorporated; what does RCA stand for? 2. Ronald Reagan appeared as George Gipp in a movie about a coach for what sport? 3. Where is the most visited cemetery in the world: Hollywood, New Orleans or Paris? 4. In what sport did the term “hat trick” originate: baseball, cricket or golf? 5. On Oct. 18, 1961, what musical fi lm inspired by “Romeo and Juliet” debuted? 6. On what TV series is a fi ctional character named Thing T. Thing? 7. What tap dancer was known as a Mr.? 8. On Oct. 19, 1864, Confederate agents robbed three banks in Saint Albans in what state? 9. In what year was the Michael Jackson song “Thriller” released: 1976, 1982 or 1992? 10. On Oct. 20, 1882, what actor who portrayed vampire Count Dracula was born? 11. What Greek goddess of victory is also the name of an athletic clothing brand? 12. What type of offi cials have coined the terms founding fathers, iff y and squatter? 13. On Oct. 21, 1858, the comic opera “Orpheus in the Underworld” debuted in Paris; what was often danced to its “Galop infernal”? 14. What novel that inspired a 1971 fi lm was named the most banned book in public schools in 2024-2025? 15. What cartoon character has a niece and nephew named Splinter and Knothead? 16. Which bear won Katmai National Park’s 2025 Fat Bear Week competition: Chunk, Grazer or 99? 17. On Oct. 22, 2008, what country launched its fi rst moon space probe, Chandrayaan-1? 18. Vampires cannot stand the smell of what plant food? 19. What Haverhill poet said, “What calls back the past like the rich pumpkin pie?” 20. On Oct. 23, 1940, what Brazilian athlete was born who was nicknamed Black Pearl? Answers Dear Savvy Senior, My husband and I have been thinking about getting a longterm care insurance policy, but we hate the idea of paying expensive monthly premiums for a policy we may never use. Is long-term care insurance worth it? Approaching Retirement Dear Approaching, There are two key factors you need to consider that can help you determine if purchasing a long-term care (LTC) insurance policy is a smart decision for you and your husband. One factor is your fi nancial situation and second is your health history. Currently, around 7.5 million Americans own a policy. Who Needs LTC Insurance? As the cost of LTC — which includes nursing home, assisted living and in-home care — continues to rise, it’s important to know that most people pay for LTC either from personal savings or Medicaid when their savings is depleted, or through a LTC insurance policy. National median average costs for nursing home care today is over $100,000 a year, according to the Genworth Cost of Care survey. Assisted living facilities and home care aides average more than $65,000/year. While national statistics show that about 70 percent of Americans 65 and older will need some kind of LTC, the fact is, many people don’t need to purchase LTC insurance. The reasons stem from a range of factors, including the fact that relatively few people have enough wealth to protect to make purchasing a policy worthwhile. Another important factor is that most seniors who need LTC only need it for a short period of time, for example, when they’re recovering from surgery. For those people, Medicare covers in-home health care and nursing home stays of 100 days or less following a hospital stay of more than 3 consecutive days. So, who should consider buying a policy? LTC insurance make the most sense for people who have investable assets of $500,000 to around $2 million that they want to protect. Anything less, and you will likely deplete your resources and go on Medicaid for LTC coverage. Anything more, and you can probably aff ord to pay for care yourself. Another factor to weigh is your personal health and family health history. The two most common reasons seniors need extended long-term care is because of dementia and/or disability. And, almost half of all people who live in nursing homes are 85 years or older. So, what’s your family history for Alzheimer’s, stroke or some other disabling health condition, and do you have a family history of longevity? You also need to factor in gender too. Because women tend to live longer than men, they are at greater risk of needing extended LTC. Choosing LTC Coverage After evaluating your situation, if you’re leaning towards buying a LTC policy, be aware that premiums can vary widely. According to the American Association for Long-Term Care Insurance, premiums for a policy bought by a couple who are both age 65 for a benefi t pool of $165,000 each, with a 3 percent inflation rider, ranged from $7,137 to $8,493 a year. You can buy LTC insurance from an insurance company or through an agent. Or you might also be able to buy a policy at work. Be sure to get quotes from several sources for the same coverage to compare prices. There are two main types of long-term care coverage you’ll want to consider. Traditional LTC insurance, which is “use it or lose it.” And hybrid policies that combine LTC coverage with life-insurance benefi ts. These policies promise that if you don’t end up needing long-term care, your benefi ciaries will receive a death benefi t. Both types of policies require medical underwriting to qualify. Another hybrid product to consider is an income annuity that includes a provision to increase your payout if you need LTC. However, the payout may not cover the full cost of care, and the added cost of this provision, known as a rider, can reduce the standard payout from the annuity. Send your questions or comments to questions@savvysenior.org, or to Savvy Senior, P.O. Box 5443, Norman, OK 73070. 1. Radio Corporation of America 2. Football (“Knute Rockne, All American”) 3. Paris (Père Lachaise — with many famous graves [Edith Piaf, Oscar Wilde, etc.]) 4. Cricket (some saying that a hat was given as an award) 5. “West Side Story” 6. “ The Addams Family ” (also known as just Thing) 7. Luther “Bill” Robinson (Mr. Bojangles) 8. Vermont 9. 1982 10. Bela Lugosi 11. Nike 12. U.S. presidents (Warren Harding, Franklin D. Roosevelt and James Madison, respectively) 13. The cancan 14. “A Clockwork Orange” by Anthony Burgess (Stanley Kubrick movie) 15. Woody Woodpecker 16. Chunk 17. India 18. Garlic 19. John Greenleaf Whittier 20. Soccer player Pelé (real name Edson Arantes do Nascimento)
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