60 Seconds with...Larry Minnix

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60 Seconds with...Larry Minnix
60 Seconds with...Larry Minnix
Q: Why are you such a staunch CLASS Act advocate?

A: We all have fire insurance for our homes. Car insurance against accidents. Many have health and life insurance, even burial insurance and pet insurance. Insurance is an accepted way of hedging against risk. With CLASS, we will have the chance to insure ourselves against perhaps the biggest blank check risk any of us will face: the need for substantial help to live, work and function in a place called home.

Q: Opponents call it a new entitlement program. Is that fair?

A: The CLASS plan promotes personal responsibility, puts choice in the hands of consumers, and doesn't rely on taxpayer funds. CLASS is totally voluntary. Its cash benefit approach allows consumers to choose the type of help they want. It's not a government entitlement program and stands on its own financial feet.

Q: What are the biggest unknowns about CLASS?

A: The biggest question is that no one can be sure how many people will sign up the day it is offered and how rapidly the pool will grow based on how popular it will become based on public perception of benefit and protection.

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