Gabe Is 58 Years Old and Has Been Dependent on a Care

Gabe is 58 years old and has been dependent on a care for a couple of years.Gabe fears that he may need long-term care services some day in the future.His net worth is $400,000 and he receives $50,000 per year in a pension.He considers himself to be in excellent health and has never had a serious health scare like a heart attack,stroke,or cancer.He eats lots of bran and exercises regularly.Which of the following policies would you recommend to Gabe?

A) Gabe needs a disability income policy.
B) Gabe should buy a long-term care policy with a long elimination period,lifetime benefits,and a cost-of-living-adjustment (COLA) .
C) Gabe should buy a long-term care policy with a five-year limit,short elimination period without a cost-of-living-adjustment (COLA) .
D) Gabe doesn't need disability insurance and probably can't qualify for long-term care insurance.
E) Gabe can qualify for Medicaid if and when he needs long-term care services.