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Old 10-11-2017, 12:55 PM
 
Location: Central Massachusetts
4,800 posts, read 4,866,680 times
Reputation: 6379

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Quote:
Originally Posted by LTCShop View Post
If long-term care insurance cost $100,000 for $200,000 of benefits, then it doesn't make sense to buy it.
Fortunately, a 56-year old woman, in good health can get $500,000 of LTC insurance benefits for only $193.92 per month in premium.
If you qualify. If you have no medical history in you or your family that will allow them to take the bet. If you have anything add in more and more until they say nope you are not worth the risk. Please do not tell people that every 56 year old woman can get $XXX,XXX.XX for a measly $XXX.XX when in fact many people are not allow in the risk pool.
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Old 10-11-2017, 02:08 PM
 
Location: LTCShop.com
236 posts, read 113,563 times
Reputation: 151
Quote:
Originally Posted by oldsoldier1976 View Post
If you qualify. If you have no medical history in you or your family that will allow them to take the bet. If you have anything add in more and more until they say nope you are not worth the risk. Please do not tell people that every 56 year old woman can get $XXX,XXX.XX for a measly $XXX.XX when in fact many people are not allow in the risk pool.


You're right, oldsoldier.
That premium was for someone in excellent health.
The premium would be 11% more ($215.47 per month) if she had any of these pre-existing conditions:

Acoustic Neuroma
ADD/ADHD (stable on medication)
Addison's disease
Alcoholism (5 years recovered)
Amputation due to trauma
Anemia (moderate)
Aneurysm, abdominal or thoracic (1 year after surgery)
Angina Pectoris with history of heart attack
Angioplasty (six months after surgery)
Angioplasty with stent (six months after surgery)
Angioplasty with history of heart attack
Ankylosing Spondylitis (mild to moderate)
Anxiety (mild to moderate with or without medications)
Arrhythmias (other than atrial fibrillation)
Arteriosclerosis (mild)
Arteritis (1 year after recovery)
Arthritis, degenerative or osteoarthritis, mild to moderate
Arthritis (rheumatoid), mild, controlled with non-steroidal medications.
Asthma, moderate, controlled with medications (no steroids)
Atrial Fibrillation (not on medication)
Avascular Necrosis (surgically corrected)


These are just the A's.
Do you want me to list all the acceptable pre-existing conditions that start with B through Z?
The list is 41 pages long.

Were you or your wife declined for long-term care insurance?

Last edited by LTCShop; 10-11-2017 at 02:45 PM..
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Old 10-11-2017, 02:47 PM
 
72,130 posts, read 72,094,203 times
Reputation: 49649
Quote:
Originally Posted by LTCShop View Post
If long-term care insurance cost $100,000 for $200,000 of benefits, then it doesn't make sense to buy it.
.
that sounds more like a hybrid life insurance deal , yes?
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Old 10-11-2017, 02:50 PM
 
72,130 posts, read 72,094,203 times
Reputation: 49649
Quote:
Originally Posted by LTCShop View Post
You're right, oldsoldier.
That premium was for someone in excellent health.
The premium would be 11% more ($215.47 per month) if she had any of these pre-existing conditions:

Acoustic Neuroma
ADD/ADHD (stable on medication)
Addison's disease
Alcoholism (5 years recovered)
Amputation due to trauma
Anemia (moderate)
Aneurysm, abdominal or thoracic (1 year after surgery)
Angina Pectoris with history of heart attack
Angioplasty (six months after surgery)
Angioplasty with stent (six months after surgery)
Angioplasty with history of heart attack
Ankylosing Spondylitis (mild to moderate)
Anxiety (mild to moderate with or without medications)
Arrhythmias (other than atrial fibrillation)
Arteriosclerosis (mild)
Arteritis (1 year after recovery)
Arthritis, degenerative or osteoarthritis, mild to moderate
Arthritis (rheumatoid), mild, controlled with non-steroidal medications.
Asthma, moderate, controlled with medications (no steroids)
Atrial Fibrillation (not on medication)
Avascular Necrosis (surgically corrected)


These are just the A's.
Do you want me to list all the acceptable pre-existing conditions that start with B through Z?
The list is 41 pages long.

Were you or your wife declined for long-term care insurance?
i was surcharged about 900 bucks a year for being prediabetic after having a blood test in the diabetic range previously
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Old 10-11-2017, 02:53 PM
 
Location: LTCShop.com
236 posts, read 113,563 times
Reputation: 151
Quote:
Originally Posted by mathjak107 View Post
i was surcharged about 900 bucks a year for being prediabetic after having a blood test in the diabetic range previously
Most companies charge diabetics about 20% more than someone who is in perfect health.
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Old 10-11-2017, 02:56 PM
 
72,130 posts, read 72,094,203 times
Reputation: 49649
that is the problem with delaying taking a policy . had we taken it just 2 years earlier when we first wanted to i did not have that diabetic blood test on record . afterwards i got it down to prediabetic levels but the report was already on record so i got surcharged .

waiting can be costly when all of a sudden something shows up .
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Old 10-11-2017, 03:07 PM
 
Location: LTCShop.com
236 posts, read 113,563 times
Reputation: 151
Quote:
Originally Posted by mathjak107 View Post
that is the problem with delaying taking a policy . had we taken it just 2 years earlier when we first wanted to i did not have that diabetic blood test on record . afterwards i got it down to prediabetic levels but the report was already on record so i got surcharged .

waiting can be costly when all of a sudden something shows up .


That is very true.
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Old 10-11-2017, 03:28 PM
 
Location: Central Massachusetts
4,800 posts, read 4,866,680 times
Reputation: 6379
Quote:
Originally Posted by LTCShop View Post
Were you or your wife declined for long-term care insurance?
No and we qualify in a group policy at right about that rate. We decided that we will bet against the house. If we lose only we lose not you or anyone else. We know the risk and decided that we will take that risk.
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Old 10-11-2017, 03:55 PM
 
Location: Central Massachusetts
4,800 posts, read 4,866,680 times
Reputation: 6379
But we have the resources to risk. It is our risk and our resources.
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Old 10-11-2017, 05:01 PM
 
Location: LTCShop.com
236 posts, read 113,563 times
Reputation: 151
Quote:
Originally Posted by oldsoldier1976 View Post
But we have the resources to risk. It is our risk and our resources.

would you invest in a mutual fund that had a 30% chance of losing a quarter million dollars of your net worth?

Last edited by LTCShop; 10-11-2017 at 05:10 PM..
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