Newby0709

I've been in that situation three times. That is why, even though it is expensive and we don't have much, my husband and I have LTC insurance. I'll risk paying the premiums and, hopefully not need it, than the alternative.

cruise

My mom as been in a nursing home for the past 4 years and we have a long term life insurance. Before comitting to this type of insurance you should serious consider if its right for you. In my experience having this type of insurance is good and bad. What i mean is if you have the finances for it go for it but if you don't, you should just save up the money and pay out of pocket when its necessary. If i knew then what I know now I wouldn't of gone for it.

Cornerstone quilter

My mother-in-law took out a long term care policy many years ago. She went into an assisted living facility in 2005. She had a waiting period of a couple months, then the policy starting paying out. She is still getting care at the facility and the policy is still paying and will till she passes. Great policy. We sure couldn't afford it without it. I don't think that kind of policy is available anymore. She has most definitely gotten her money's worth!!!

BETTY62

Insurance is one of those things where the saying "you pay for what you get" applies. Before you purchase a policy, talk with a representative from several different insurance companies making sure each has experience with the long term care coverage. Have him or her explain in full detail the coverage you are being offered, the benefits it provides and what each benefit will actually pay for. Ask lots of questions and make sure the rep provides you the information necessary for you to fully understand the coverage. Have the rep provide you with a written summary of the coverage and the cost of the plan he or she is offering. If they are unwilling to provide you with this summary, you might want to reconsider working with this rep. Compare the summary of each company with the other before making your decision. When you have purchased the coverage and your policy is issued, be sure your rep reviewes it with you upon delivery to make sure there were no mistakes made at the time of issue.

john48

"Long term care insurance is an option but one that's fraught with risks and regrets for those who don't do their homework, don't check the fine print or don't choose a well known company. There have been bad stories of the people paying premiums on long term care insurance policies for years, only to find the benefits would not cover their needs 20 or 30 years down the road when health care and long term care costs are significantly higher".

montecarlo

What do you mean "collect?"
if you mean benefits, then, yes, you can get benefits but it depends in your policy or coverage. You could check this for more long term care insurance information

Quillium

There are some very nice old age assisted living homes, which are very well and reasonably priced. Who provide 24/7 nursing facility with long term health insurance policy. Also provide other luxuries facilities like Furnished bed rooms, Equipped baths, T.v lounge, internet, wheel chair and two lifts.