Long Term Care Insurance

[LJ1999]

Thinking about LTC Insurance. At the moment I am leaning towards a Life Insurance Policy with LTC Rider. What input do you all have? Worth it, not worth it, is there a better way?

My parents both had LTC Insurance but never had the opportunity or need to use it.

 

[TPD]

Thinking about LTC Insurance. At the moment I am leaning towards a Life Insurance Policy with LTC Rider. What input do you all have? Worth it, not worth it, is there a better way?

My parents both had LTC Insurance but never had the opportunity or need to use it.

Beware, if you have any medical issues now, you may not qualify for LTC insurance. I qualified for a policy a couple years ago, my wife did not because of some medical stuff. We only have one child so figured LTC insurance is a better choice than relying on our only child to care for us in our older years of need.

 

[HemiHauler]

I still maintain the premiums on an LTC policies from a previous employer for spouse and me. When we got them, no medical exam necessary, but might have been a brief questionnaire - over 30 years ago.

It’s a key element in the protection of assets in case.

Premiums for females are more expensive than males. Premiums steadily rose over the years, but have risen more sharply in the past few years, as many insurance products have.

For the two of us, our premiums are just around $3k annually. This includes built-in inflation tracking for the monthly benefit, but you can generally choose a fixed benefit option for less in premiums.

 

[KassadiXX]

I've been looking into LTC Insurance too. A Life Insurance Policy with an LTC Rider seems like a good idea. My parents had LTC Insurance but never needed it, so I understand your hesitation. I found some other options online that look interesting. You might want to check out www.sagicor.cr. They offer different insurance policies that might work for you.