Long Term Health Care Insurance?
 

Have any of you been able to 'collect' on a long term health care insurance policy/plan?

I'm depending on my kids! I took care of my mom, mother-in-law and my husband. I made sure to tell all 6 kids "that is the way we do in our family". :thumbup:

Depends on the policy . And the situation. I take your question seriously. We were unable to care for our mom at home . The nursing home cost $6,000 per month and it was not one of the expensive ones either. We paid out of pocket for 13 months. Prior to the nursing home she lived in assisted living for about 15 months. Four children. One estranged and lived out of town. Two single.....have to work full time. One married. (me) I lived 3 hours away. Mom required 24/7 care after two strokes and dementia. No long term care policy in place. The policies are very expensive.

Sandy

My sister had a long term policy. Don't know how long she paid into the policy but when she needed it, it did not go into effect until after 60 days after she would under hosiptal care. The care would be paid out of their pocket until the policy care started. Instead, she went into Hopsis Care and subquently died in less 2months. BTW, she had been fighting cancer for nearly 4 years.

If you are anticipating trying to collect, read the term and conditions on the policy. OR...are you THINKING about getting a policy? Good luck. My bother has a policy and I told him good luck. You may have a bed if you need it but not sure if there will be someone to wipe your butt when you need it OR if the person will understand English. Why do I know? Mom was in three nursing homes and we decided we could do a better job. Places short on staff and many aids spoke broken English or were too young to give a crap...oh dear. I digress. Sorry.

My suggestion is to save money for your long term care and pray it is enough. The policies are not all equal and for many I have heard they keep raising the premium until you can't afford it and then you drop it before you need it. Mine is just hear say!

My mom has a long term care policy and she has been living in an assisted living apt with a lot of assistance ... my sister finally got the policy to start paying for some of her care. It took a lot of work to get them to pay and I still think they should be paying more than they are. We have now moved my mom to the Memory Care Unit in the same complex and they are still paying some each month. It takes a lot of follow-up. If an older person doesn't have someone to help them out I think they would be out of luck.

I have a long term care policy. Have it for 12 years now. I'm 75 years old. The premium does go up every year which so far I'm managing to pay. It's cheaper than paying a nursing home each month though. It's one of those things I hope I never need, like my auto insurance.

I took out a policy on my mother about 1983 or 1984. She went to a nursing home about 1989. She passed in 1993. The policy paid with no problems. I've had no recent experience with a policy paying. I have taken out a policy on myself and one on my husband. My policy has not raised the premiums. My husband had to get his from a different company because of his health issues. His premiums have been raised regularly.

Like most things.. there are good companies and bad companies... I know a few ppl that had policies that paid off with out difficult after a set amt of time with out of pocket payments....... They tend to be limited time or $ amt .

good luck in ur quest