Although George J

Although George J. Winthrop IV is not as wealthy as his forefathers, he was able to acquire some wealth through his years and has planned on his and his wife's long-term care to be paid from his retirement savings. Therefore, he has decided NOT to buy long-term care insurance. Is this a sound strategy?

A) Yes, because long-term care insurance is extremely expensive and can be hedged with household savings.
B) Yes, because long-term care insurance is only for people who have not saved enough household wealth.
C) No, because of the "first to care" concept, one spouse could wipe out the savings before the second spouse could use them.
D) No, because long-term care insurance is very inexpensive.