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 11-14-2016, 08:35 PM
 
Location: Eagle Idaho
60 posts, read 42,820 times
Reputation: 137

Advertisements

My LTCI is to stay active and healthy and not obese as long as I can. That's a much better investment than anything else you can think up yet few people bother to do it. LTCI might have been a good deal 20-30 years ago but right now it seems like you are paying a lot and taking a lot of financial risk. If you are in your 50's right now the odds of both you being able to afford future premiums AND your insurance company being around in 30 years and willing to pay claims is pretty low. Not to mention what type of quality of care you might get in the future compared to what you thought you were going to get when you bought the insurance to begin with.

Go buy a bicycle, a pair of hiking boots, and a kayak and you will have an investment in your own LTC that is a lot better than anything you can get on Wall Street these days. And if you are faced with a serious terminal disease don't bankrupt your whole family trying to beat the odds or live for 3 more months, cowboy-up and enjoy the time you have left and know that you are leaving a legacy of love and not one of bills and bankruptcy.
Reply With Quote Quick reply to this message

 
Old 11-14-2016, 10:59 PM
 
6,884 posts, read 7,284,046 times
Reputation: 9786
Wow John Hancock that was one of the companies on a list I had considered two years ago when I thought about getting LTCI. Guess I missed that boat.

One reason given – “flat consumer demand” I don’t know that I really buy that. I think a fair number of people are considering getting LTCI coverage. Not all do of course....I just think that even if demand IS flat it’s an excuse they can use to get out of that market. Trust me. if they were making money on it – whether demand was flat or not – they’d stay in the LTCI business. So in my mind that makes it an excuse. Companies stay in all kinds of sector when demand is "flat" -- if they're making money on them.

“The United States is nearing a long-term care planning crisis” -- yep.
And as a late wave baby-boomer my fellow boomers and I are right in the target zone of that perfect storm.
Reply With Quote Quick reply to this message
 
Old 11-15-2016, 07:54 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by selhars View Post
Wow John Hancock that was one of the companies on a list I had considered two years ago when I thought about getting LTCI. Guess I missed that boat.

One reason given – “flat consumer demand” I don’t know that I really buy that. I think a fair number of people are considering getting LTCI coverage. Not all do of course....I just think that even if demand IS flat it’s an excuse they can use to get out of that market. Trust me. if they were making money on it – whether demand was flat or not – they’d stay in the LTCI business. So in my mind that makes it an excuse. Companies stay in all kinds of sector when demand is "flat" -- if they're making money on them.

“The United States is nearing a long-term care planning crisis” -- yep.
And as a late wave baby-boomer my fellow boomers and I are right in the target zone of that perfect storm.
Flat is not enough new money coming in at a younger age. When folks wait til their late 60's they have limited income and the cost is greater
Reply With Quote Quick reply to this message
 
Old 11-15-2016, 12:47 PM
 
6,884 posts, read 7,284,046 times
Reputation: 9786
Quote:
Flat is not enough new money coming in at a younger age. When folks wait til their late 60's they have limited income and the cost is greater
But they also pay a higher premium.

My point wasn't about how 'flat' is described. My point was that it's the reason is being used as the excuse/justification from getting out of that market.

Why didn't JH say we're getting out because we're not making any (or enough) money on it?
My point was about the spin JH (or the article's author) put on its reasoning. That's all.
Reply With Quote Quick reply to this message
 
Old 11-15-2016, 02:22 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,585 posts, read 39,962,822 times
Reputation: 23716
There are a lot of companies bailing on Insurance and HC and anything else that now has more paperwork than payment.
There certainly is less interest in LTCi, as witnessed by this thread, and culturally, people / families prefer keep a positive outlook and things will be great! (fortunately that works for most!). Statistically, there is probably a strong drop in "LT stays under skilled care", of course, since Insurance kicks folks out ASAP.

I lost 4 Primary care physicians in 4 yrs for the 'paperwork / hassle' reasons. Can't be a Dr, Teacher, engineer, finance manage, caregiver, sole proprietor, lawyer... without covering your hiny with an asbestos shield and your desk with very onerous paperwork (you are still very likely to miss something and end up with a fine or fee).

teachers may spend over 60% of their time 'reporting', especially if special needs, or utilizing a federal program.
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