Longterm Care Ins.
#11
my mil has it.... so like someone said she wouldn't become a burden on her children.......
i don't know what I think about it...
i don't know what I think about it...
#12
Mary, you should get professional help to decide if you need this (and NOT from someone who sells it!!) - like others have said, if you don't have a lot of assets, you don't need it; if you have a LOT of assets, you don't need it.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
#13
Originally Posted by tolepainter54
I would have to look into it, but as a wife whose husband has alzheimers, it is something I wish we would have taken out. Trying to get help is darn near impossible because they say I make too much money. Really, I live paycheck to paycheck like most people. I applied for Medi Cal for him and my share of cost per month is $2300.00 before they will start paying. I don't have $2300.00 extra every month. It is looking like I may have to divorce my husband so that he will get the help he has earned. I would seriously look into it. Since he has alzheimers, he has no idea the financial strain I am under. Sorry, didn't mean to vent.
You are all being really helpful.
#14
Originally Posted by ptquilts
Mary, you should get professional help to decide if you need this (and NOT from someone who sells it!!) - like others have said, if you don't have a lot of assets, you don't need it; if you have a LOT of assets, you don't need it.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
#15
Originally Posted by mary quite contrary
Originally Posted by ptquilts
Mary, you should get professional help to decide if you need this (and NOT from someone who sells it!!) - like others have said, if you don't have a lot of assets, you don't need it; if you have a LOT of assets, you don't need it.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
I would not necessarily trust him. Are you a senior? Try contacting your local Council on Aging, I bet they would have some good info.
here is a good site from the FTC
http://www.longtermcare.gov/LTC/Main...nce/index.aspx
#16
Senior Member
Join Date: Mar 2011
Location: Blue Ridge Mtns.
Posts: 941
Is your husband a veteran? If so, the VA hospitals may offer some help.
#17
My DH and I are both 55. We sort of fit in the inbetween group. We aren't destitute but we don't have tons either. We do have a nest egg but we aren't rich by any means.
At this point we are both in good health. We each need to lose probably 25 lbs but other than that we are pretty healthy. We are just trying to be smart and plan ahead.
Thanks again for your help with this.
I have been talking to a financial expert but he "works with" the insurance agent and I'm not sure what that means. Does he get a piece of the pie? I don't know.
I would not necessarily trust him. Are you a senior? Try contacting your local Council on Aging, I bet they would have some good info.
At this point we are both in good health. We each need to lose probably 25 lbs but other than that we are pretty healthy. We are just trying to be smart and plan ahead.
Thanks again for your help with this.
Originally Posted by ptquilts
Originally Posted by mary quite contrary
Originally Posted by ptquilts
Mary, you should get professional help to decide if you need this (and NOT from someone who sells it!!) - like others have said, if you don't have a lot of assets, you don't need it; if you have a LOT of assets, you don't need it.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.
If you don't know a financial professional to advise you, try Suze Orman's website.
I would not necessarily trust him. Are you a senior? Try contacting your local Council on Aging, I bet they would have some good info.
#18
Originally Posted by BeckyL
Is your husband a veteran? If so, the VA hospitals may offer some help.
#19
Super Member
Join Date: Jan 2011
Posts: 3,198
Originally Posted by mary quite contrary
We have been looking at Longterm Care Insurance, sort of like nursing home insurance and we are really torn. Do you have advice for us? We would love to hear what you have to say.
#20
Super Member
Join Date: Apr 2007
Location: Alturas, CA
Posts: 9,393
We've had the long term care insurance for over 10 years now, so when we got it, the rates were fairly reasonable for what was covered, in the meantime, that company was bought out and instead of a locked in policy amount, it's gone up every year since the original company was sold, and we're just about to the point of just letting the policies lapse.
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