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 Texas Taco
Posts: 7499
   
Location: Bandera, TX | Hello All - I'm looking for some input on long term care insurance.
We have no children and no family to speak off. We are still young and healthy (43 and 50), but we also have to think about what's to come in a couple of decades.
Does anyone have LTC insurance?
Thank you!
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  JMHO
Posts: 1869
 
Location: Oklahoma | My company offers Long term and Short term insurance. The thing with the long term is I had to buy into it when I was hired. I've been paying into it for 17 years and haven't needed it...yet. But, I have a horse habit and I'm accident prone. |
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 Life Saver
Posts: 10477
Location: MT | Following.........
We have talked of looking into it as well. We are both 41, without children. |
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Elite Veteran
Posts: 926
| I've been in the insurance industry for most of my life, 40+ years. Originally, long term care insurance was a little iffy. Now there are some enhancements that do more than just pay for LTC. Some may not need LTC, other's may need it for many years. Look for one that offer's some alternative, i.e. there is some benefit if you pay in for 10 years and then die in an automobile accident. So some life option that kicks in if you never use the LTC monthly benefit.
There are many out there, just shop wisely and ask lots of questions. You don't want one that pays only a LTC benefit and if you pay in for 20 years and never use it there is nothing else. PM me if you have questions. |
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Texas Taco
Posts: 7499
Location: Bandera, TX | chicks2 - 2016-05-29 10:52 PM
I've been in the insurance industry for most of my life, 40+ years. Originally, long term care insurance was a little iffy. Now there are some enhancements that do more than just pay for LTC. Some may not need LTC, other's may need it for many years. Look for one that offer's some alternative, i.e. there is some benefit if you pay in for 10 years and then die in an automobile accident. So some life option that kicks in if you never use the LTC monthly benefit.
There are many out there, just shop wisely and ask lots of questions. You don't want one that pays only a LTC benefit and if you pay in for 20 years and never use it there is nothing else. PM me if you have questions.
Thank you. I was wondering if a regular annuity wouldn't be better? I could use it for other things if no LTC is needed or someone could inherit the annuity in case I die sooner than expected... |
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Long Term Care Insurance - looking for input please