Long Term Care Insurance

[G-Man]

Get it while you can!!!!

1 in 3 people will require some sort of long term care or nursing care towards the end of our lives.  Mid 50's looks like the appropriate age to begin with this, but you have to be able to pay for it forever.  Can't run out of money by 78 and then live till 88, that would be a waste.

Having to make some very tough decisions right now regarding care for my parents including selling their home here in NY (they will now be permanent residents of Florida), possible reverse mortgage for the apartment in Delray, selling jewelry, help from us (thank goodness we can do it and that Cheryl holds no grudge), etc.  Both of them are very upset that it's come to this, but they just didn't prepare.    

If anyone has anything to add regarding Long Term Care insurance, please chime in on this extremely important topic.

Thanks,
G

[hubcapsc]

When David Bailey and Danny Chandler went paraplegic I got long term care insurance, and then kept
it all this time... now that I am old, it is expensive.

My mother had it too... it made a big difference when she got cancer... my Uncle Dan
and Aunt Jean have it too, they're using it to pay for some in-home care (light cleaning,
driving them around, stuff like that).

It is a very good thing when you need it, and it helps relieve the care-taking burden
of the family members...

-Mike

[Oss]

Get it before you need it and medproblems drive up.costs

if you are a married couple get the plan that has 3 buckets of money

Your independent agent will explain the options

Yes before 60 its cheaper   I would say at 58-59 is best value

They even have a life insurance borrow against option

[big d]

Gary, Gary, Gary, you got all the assistance you need when you get older. It's called kids. Just hope they have a positive memory of their childhood or you will be in deep sh!?.

[Jess from VA]

I'm already prepared.  (some assembly required)

[big d]

I'm already prepared.  (some assembly required)

You obviously are low rent mr. You don't have a deck.

[cookiedough]

wonder how much this long term care insurance costs never looked into it?

I normally am not fond of any type of paying for insurance just because 'you could' possibly use it once.

My mom is in assisted living around 4K per month and at that rate all the hard earned money my Dad made will be gone in about 8 more years if she lives that long.  After that,  the govt. will kick in after selling the house and all other personal belongings.

It sucks but it is what it is.....

I am moving my mom though end of May to a cheaper asst. living home since every 300-400 bucks per month adds up to another 1 year of coverage after say 8 years or so.  I cannot fathom nursing homes since mom was there after her fall in December and that place is at 10K per month and found out from one of the nurses there that nearly ALL who live permanently in nursing homes are govt. funded since no one has 10K per month to blow for very long.    Why long term care costs so darn much is beyond reasoning and belief is totally shocking since someone is gettng RICH out of the deal.

[Jersey mike]

wonder how much this long term care insurance costs never looked into it?

I normally am not fond of any type of paying for insurance just because 'you could' possibly use it once.

My mom is in assisted living around 4K per month and at that rate all the hard earned money my Dad made will be gone in about 8 more years if she lives that long.  After that,  the govt. will kick in after selling the house and all other personal belongings.

It sucks but it is what it is.....

I am moving my mom though end of May to a cheaper asst. living home since every 300-400 bucks per month adds up to another 1 year of coverage after say 8 years or so.  I cannot fathom nursing homes since mom was there after her fall in December and that place is at 10K per month and found out from one of the nurses there that nearly ALL who live permanently in nursing homes are govt. funded since no one has 10K per month to blow for very long.    Why long term care costs so darn much is beyond reasoning and belief is totally shocking since someone is gettng RICH out of the deal.

my wife's parents are in a similar boat. her dad has Alzheimer's and her mom has a multitude of health issues, the worst being she has given up on life all together, I would call it severe depression and a fear of being out of the house.

after 4 years of cooking meals every week and working from their house twice a week my wife finally decided to get a nurse to come 3 times a week but she does still work from there once a week.

this is a rough time, it's not easy. the worst is how sad it is to see these two people just drift away. her mom fights every aspect of care and her dad is beyond knowing what is really going on.

before i got married i heard all the horror stories about mother and father-in-laws and i dreaded it would happen in our marriage but before they got sick my in-laws were terriffic people and i respected them and all they did through their lives (that may have come out wrong, i still do respect them) and they stood by us with our decisions on how we raised our kids.

Alzheimer's sucks, we should cure it.

[gregk]

I will have to live in a tree house but having trouble designing the elevator, maybe a kicker baler could be made to work and then use a slide to get down.