As I mentioned in a recent newsletter, people often ask me if I’m like Suze Orman. Overall, I think she is fantastic in terms of what she has done for Women and Money but there are some strong opinions about her, as well! I received a great note from a colleague, Carol Bassin, who specializes in long-term care insurance with Met Life (firstname.lastname@example.org). It is especially important if you are thinking about long-term care insurance or have a parent who needs it.
“I also have spoken to many people who think Ortman is the Holy Grail. I agree a lot of what she says about debt and savings is important particularly for some women BUT her opinions and RULES about insurance are particularly flawed. I like to believe, although some things are universal, that each client is an individual and has different needs. Example: A young 40 year old fellow, married with children, came to me to buy long-term care insurance. Why so young I asked? His Dad had and died from Lou Gehrig’s disease at a very young age. Of course he needed it! Ortman’s blanket rule, at first, was not to buy it at all – no one should buy it until 65 years old, and then she changed, since that rule is far from correct for most people I counsel!”
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