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Article: Companies short on interest in long-term health care insurance.(Special Report)
- Article from:
- San Diego Business Journal
- Article date:
- September 4, 1995
- Author:
CopyrightCOPYRIGHT 1995 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The last year before Mary Smith's father died, the cost for his care in a nursing home ran about $50,000, bringing the cost for the eight years in the home to nearly $500,000.
There was no insurance to cover those costs. It was all paid out of the family's estate, including the sale of the Smith family home.
Mary Smith is a pseudonym; she preferred her real name not be used.
The experience of her father's lingering death was almost too painful to recall.
"He had a stroke and he couldn't speak and was completely paralyzed. It was a horrible experience. My mother tried to keep him at home, but she soon realized she couldn't do that," Smith said.
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