Long Term Care Insurance
Posted 26 April 2013 - 07:54 AM
If you've already made this decision, did you get the LTC insurance? Why or why not? If you did, where did you start for finding a reputable company? What other suggestions do you have for me? Does the big "60" make a difference in costs or availability?
Posted 27 April 2013 - 01:47 PM
Posted 27 April 2013 - 05:07 PM
Posted 28 April 2013 - 10:57 AM
Posted 29 April 2013 - 08:15 AM
Posted 29 April 2013 - 09:48 PM
Posted 30 April 2013 - 08:09 AM
Posted 30 April 2013 - 10:29 AM
The thing is most people are in the nursing home for six months or less so usually you are better off self insuring.
my dad was in for a year and a half but it was on medicaid. While in there he starved himself to death.
Posted 30 April 2013 - 12:21 PM
I am not a human being trying to have a spiritual experience; I am a spiritual being having a (sometimes difficult) human experience.
Posted 02 February 2014 - 09:03 PM
I'm a certified financial planner, & that's why I felt so guilty of not purchasing a LTC two years ago for my husband. I urged all my clients who are in their late 50s to purchase one, yet I did not follow my own advice. In all honesty, who would knew he has it at the age of 49? Regrets, shame, I feel the guilt every time I see my husband's hands shaking.
Regardless, nowadays there are plenty options to choose: 1) stand alone LTC (use it or lose it) 2) LTC w/ Life 3) LTC w/ annuity. Depending on your goals & financial status, the option 1 can be the cheapest way to insure. The option 2) & 3) usually require a lump-sum premium upfront. However, if you live to an old age & never need the LTC, the premium can be used for yourself as a "longevity ins.", or passed on as the death benefit for your children. In addition, I know one ins. offers the LTC for the uninsurable spouse only if the insured one has a LTC ins. & later file a claim. That's when the uninsurable spouse can have the benefit.
I was very tempted to have that one. However, being healthy myself, the chance for me to file a claim soon is very slim. I end up purchasing the LTC/Life last Friday. Keep my finger crossed to get it since my term ins. just expired last yr. This way I solve two problems w/ one solution.
Posted 12 February 2014 - 08:46 PM
Also, age 60+ should not be a factor to apply tbe LTC as long as one is in a good health.
Posted 12 February 2014 - 08:50 PM
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