Insurance for The Twilight Years

Life care takes the uncertainty out of retirement

Ever tried to calculate the cost of your retirement? Good luck. An average senescence with no surprises can be a lowbudget affair, but beating the actuarial tables may mean a mighty surge in expenses. Nothing is more unpredictable than medical bills, particularly for longterm nursing care, which can be the biggest health expense for the elderly. For that reason, more and more retirees are turning to "life-care communities," which promise to cover all basic needs until death in return for a hefty entrance fee and monthly service payments.

While some religious groups have long maintained such communities, several private companies, including...

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