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Money Buzz 04/03

Long-term care insurance; why your state might not be included in the federal estate tax repeal

This story appears in the April 2003 issue of Entrepreneur. Subscribe »

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Long-term care insurance, policies that provide benefits if purchasers have to move into nursing homes or need home care, used to be associated with the elderly. But providers have begun marketing long-term care insurance to younger men and women. MassMutual has even teamed with the U.S. Chamber of Commerce to offer long-term care insurance to small-business owners. But insurance analysts say such insurance is an unwise investment for entrepreneurs in their 30s and 40s.

"At that time in your life, you're worried about lost income from missed work, and missed work would be covered by disability insurance," says Patrick Brady, executive director of Citizens for Long Term Care, an organization representing all segments of the long-term care debate.

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