Scenario 1: Long-Term Care Insurance Coverage
Betty Hall is a 62-year-old Army veteran in good health. She retired from the military five years ago after 30 years of service. Should Betty need care, she would likely qualify for Veterans Administration (VA) benefits to pay for the cost. However, it may take a year or longer before she receives approval for services. During that time, she would have to pay the cost of care out of her current income or by liquidating assets on an as-needed basis.
Develop an appropriate long-term care insurance plan for Betty based on needs, financial resources, policy coverage, and cost.
Write a 350- to 700-word analysis of the scenario, including the long-term care insurance plan you developed for Betty.