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slt002
General information
| Question text: | Suppose that you own a long-term care insurance policy that covers a maximum annual spending of $^fL_amount_ltc on long-term care in any year in which you need care.
Suppose that the stock market decreases by ^slt001_randomizer next year. We are now interested in the percent chance that during this next year the long-term care insurance policy becomes worthless due to no fault of your own. This means that the policy will never make any payments. This might occur if the insurance company goes out of business, they claim you violated a clause in the contract, or they ruled the policy void for some other reason. What is the percent chance this occurs? |
| Answer type: | Slider |
| Label: | probability ltci worthless |
| Empty allowed: | One-time warning |
| Error allowed: | Not allowed |
| Multiple instances: | No |