U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-27-2016, 01:56 PM
 
29,775 posts, read 34,863,854 times
Reputation: 11705

Advertisements

I know that if my wife goes first I will not know much until I sort things out emotionally .
My best to you JohnGolf.
Reply With Quote Quick reply to this message

 
Old 02-27-2016, 02:23 PM
 
Location: LTCShop.com
236 posts, read 113,172 times
Reputation: 151
Quote:
Originally Posted by selhars View Post
When applying for LTCI… (as for the physical part)
-- do you have to get a physical with an insurance company doctor?
-- can you get one at your doctor s/he just fills out the company's form?
-- does the company want copies of your actual records?

I ask because of this:


I'd say try to get the LTCI before you're tested. So that when you're asked have you have this kind of test? you can honestly say "no."


Every company is different.

A few companies will send a nurse to your house to collect blood and urine samples and to give you a cognitive quiz.

Most companies don't require that. Most companies require only 2 things:

1) copies of your medical records from your primary care doctor (and any specialists you see)
2) a telephone interview to review your medical history. This usually lasts about 25 minutes. Sometimes they'll include a short cognitive quiz which would make this phone call about 45 minutes long instead of 25.


To specifically answer your 3 questions:

-- do you have to get a physical with an insurance company doctor? If they require you to have a physical they will pay for the physical but it will be done by a nurse they send to your home (or workplace).

-- can you get one at your doctor s/he just fills out the company's form? No.

-- does the company want copies of your actual records? Yes. But the company pays for the copies and they will contact your doctor directly.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 02:26 PM
 
Location: LTCShop.com
236 posts, read 113,172 times
Reputation: 151
Quote:
Originally Posted by Maple47 View Post
I hope to retire in IL.
My health is OK, no major problems.
No matter where you live when you buy LTCi, your policy will pay benefits in all 50 states.
Nothing changes about your policy when you move from one state to another.

It's not a good idea to wait until you are retired to buy LTC insurance.
The biggest problem with LTC insurance is qualifying for it.
You've got to be healthy enough to get it.
I don't know what age you are planning on retiring but it's better to buy LTCi 5 years too early than to try to buy it 5 days too late.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 02:29 PM
 
Location: LTCShop.com
236 posts, read 113,172 times
Reputation: 151
Quote:
Originally Posted by selhars View Post


I'd say try to get the LTCI before you're tested. So that when you're asked have you have this kind of test? you can honestly say "no."

In her case, since her medical records already say that her doctor has recommended she have a neurological exam, she will not be able to qualify for an LTCi policy until she has the neurological exam.

There is one exception, however:

There are some policies that have "simplified" underwriting. That means that they don't request copies of your medical records. If she applied for a policy like that, then she would not have to get the neurological exam done.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 04:28 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,927,825 times
Reputation: 6716
Quote:
Originally Posted by johngolf View Post
Some 5 years ago my wife and I relocated and one of our decisions on the the type home to buy was what happens when there is only one of us left. This influenced us to buy a place roomy enough for two but manageable for one thus 1500sq ft. Buy new so no repairs in the short term. Typical new homes do not need any repairs/replacements in the 1st 8 years. Buy a home where the HOA does all outside maintenance which means landscaping and external house repairs.

Bottom line is the conversation of what happens when one is the one left need to begin ASAP.
You don't have to do anything yesterday unless something medical comes up (like an incapacitating stoke). Or you think you're at the peak of a real estate market boom - and want to cash out (which was the case with my father after my mother died in 2005). Robyn
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 05:15 PM
 
Location: Columbia SC
8,959 posts, read 7,737,941 times
Reputation: 12164
Looking

Thanks for your condolences. I am sorry for your loss and suffering but I do not want to turn this into a Grief and Mourning Chat (there is one for that on City-Data here and it can be quite helpful).

I said what I said to emphasize that one has to cover all bases in their thinking and as you get older (this is a Retirement Chat so probably an older crowd), the inevitable (death) does get closer. It has to be planned on even if painful to do so and best done when all are alive.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 06:52 PM
 
29,775 posts, read 34,863,854 times
Reputation: 11705
Based on personal experiences and those of folks we know along with discussions in this and a couple of other places I have some general observations. Not facts, not applicable across the board but general. Spousal retirement and post retirement planning on finances can vary with the nature of how the couple handles their money. Are all of the accounts joint or are they individual. Are the resources being used for retirement equally earned and sufficient if the individuals were not married? If joint financial management is and was the working years norm than my hunch is the flow into retirement will also be joint. If the resources combined or individual are sufficient for a comfortable retirement it becomes easier. Critical for those with pensions is the decision to opt or not opt for survivor benefits. That can often be symbolic of the state of mind of the couple as they move forward. For us it was easy and since one of us did the big picture financial management it flowed naturally. Sorta like tell me what you want and let me work out how we do it.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 06:57 PM
 
29,775 posts, read 34,863,854 times
Reputation: 11705
One of the things that is sorta out of focus in this forum is when discussing CCRC's we often become focused on the nursing home component which many will never get to and not the independent living component where you begin and often end. That is what is the attraction for us and for many others. It can make life a lot easier and enable you to age in place a lot easier if done right. Under a pay as you go model you really have nothing to lose and pay monthly with a yearly lease so you really can leave if not happy without forfeiting anything.
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 07:08 PM
 
71,526 posts, read 71,712,424 times
Reputation: 49105
Quote:
Originally Posted by LTCShop View Post
No matter where you live when you buy LTCi, your policy will pay benefits in all 50 states.
Nothing changes about your policy when you move from one state to another.

It's not a good idea to wait until you are retired to buy LTC insurance.
The biggest problem with LTC insurance is qualifying for it.
You've got to be healthy enough to get it.
I don't know what age you are planning on retiring but it's better to buy LTCi 5 years too early than to try to buy it 5 days too late.
If it is a state partnership plan things can change in the perks if you move out of state. Our total asset protection coverage and income protection vanishes and the plan reverts to a dollar for a dollar protection
Reply With Quote Quick reply to this message
 
Old 02-27-2016, 08:11 PM
 
1,227 posts, read 1,259,742 times
Reputation: 4309
Quote:
Originally Posted by TuborgP View Post
One of the things that is sorta out of focus in this forum is when discussing CCRC's we often become focused on the nursing home component which many will never get to and not the independent living component where you begin and often end. That is what is the attraction for us and for many others. It can make life a lot easier and enable you to age in place a lot easier if done right. Under a pay as you go model you really have nothing to lose and pay monthly with a yearly lease so you really can leave if not happy without forfeiting anything.
Hi TuborgP, based upon my very limited research (since I am still very far away from moving into a CCRC) my understanding was that with the buy in you were pretty much guaranteeing care even if you ran out of money, and you were limiting the annual rental increases. With the annual lease and paying monthly model I'm wondering how high annual increases in monthly charges will be and whether you are forfeiting the guarantee of continued care even if you are unable to pay in full or in part.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top