Readers' Comments
Total Comments: 18
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An Introduction to Long Term Care Insurance
Total Comments: 18
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March 20, 2010
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Long Term care
DoD
Thu Dec 20, 2007 8:47 AM
Post Reply
I bought into the LTC plan the first year in came out for both I and my spouse
Now my sister's husband is in need of assisated living but no LTC- I see the need now
I'm hoping the $200 a month I'm paying will someday be worth it.
I will have paid roughly 84,000 at age 85 for coverage for both I and spouse - lifetime benefit available today would be 348 K as of today fo me alone
Re: Long Term care
sba
Thu Dec 20, 2007 10:04 AM
Re: Long Term care
DOE
Thu Dec 20, 2007 3:46 PM
Have you ever figured out how much that $200 per month invested would return ? You didn't say how many years it took between when you started buying the insurance and 85.
I'm considering self insuring for several reasons. I'm curious if you ran any numbers before enrolling.
Re: Long Term care
DoD
Wed Apr 23, 2008 7:51 AM
ltc
sba
Thu Dec 20, 2007 10:02 AM
Post Reply
Not very informative, such as when you should sign up, etc.
Worthwhile investment
NASA
Thu Dec 20, 2007 11:36 AM
Post Reply
Most Federal employees are OVER insured as far as life insurance goes, but woefully un (or under) insured when it comes to any kind of disability insurance. You do not have to be "old" to need long term care. We are all one car wreck, etc. from needing it. Do the math, and buy the insurance!
When?
Social Security
Thu Dec 20, 2007 11:39 AM
Post Reply
How does one determine WHEN to get LTC. Before you need it obviously, but how long before?
I'm approaching 50 and am in average good health. I don't want to pay 20 years and not need it. But I don't want to wait until it's too late or too expensive.
What things does one consider??
Re: When?
MetroPrairie
Fri Dec 21, 2007 10:40 AM
Your health can fail at any time
FAA
Thu Dec 20, 2007 11:42 AM
Post Reply
I bought LTC thru fed gov at 38 when it first came out. I debated about whether that was silly given my age and lack of health problems at the time. I adopted a baby as a single parent at 40.
Fast forward 4 years - I had a mini-stroke at 42, and later diagnosed with spinal arthritis and fibromyalgia. I couldn't get LTC insurance if I applied now. I am much more likely to need LTC at a younger than average age. I am incredibly grateful I have this insurance. I'm not paying for asset preservation, I am paying for PEACE of MIND! My daughter won't be burdened with my care.
I pay $47 a pay period and have $191 per day, comprehensive, unlimited coverage with inflation protection. Yeah!
When to buy LTC insurance
VA
Thu Dec 20, 2007 3:14 PM
Post Reply
You never know when. You can only know when it is too late. Eligibility depends on not needing it when you apply. There are many variables that affect the price; days before coverage begins, inflation protection, dollars per day of coverage, types of care covered, etc. I never needed my disability insurance before I retired and I was lucky because I did not get the inflation proofing. What seemed like a reasonable amount when I bought would not have covered the mortgage on my next house by the time I retired.
When to buy LTC insurance
VA
Thu Dec 20, 2007 3:16 PM
Post Reply
You never know when. You can only know when it is too late. Eligibility depends on not needing it when you apply. There are many variables that affect the price; days before coverage begins, inflation protection, dollars per day of coverage, types of care covered, etc. I never needed my disability insurance before I retired and I was lucky because I did not get the inflation proofing. What seemed like a reasonable amount when I bought would not have covered the mortgage on my next house by the time I retired.