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Old 09-07-2017, 07:00 AM
 
1,490 posts, read 416,165 times
Reputation: 862

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Quote:
Originally Posted by LTCShop View Post
Whoever gave you those quotes doesn't know what they are doing.
Those rates are more than double the actual rates.
Those are pretty much in line with what we pay. Our ages are 63 and 68. Four years into policy.
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Old 09-07-2017, 07:02 AM
 
71,778 posts, read 71,875,234 times
Reputation: 49331
our partnership plan for 350 a day inflation adjusted by 5% a year and all our partnership perks runs 8k a year for the two of us .

we get up to a 1600 dollar state tax credit plus whatever we get on the federal back .

i have a 1k surcharge for being prediabetic
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Old 09-07-2017, 08:02 AM
 
11,153 posts, read 8,563,629 times
Reputation: 28151
Quote:
Originally Posted by Jstarling View Post
Those are pretty much in line with what we pay. Our ages are 63 and 68. Four years into policy.
Your rates are higher because you waited so late to get coverage.
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Old 09-07-2017, 11:33 AM
 
Location: LTCShop.com
236 posts, read 113,383 times
Reputation: 151
Quote:
Originally Posted by Jstarling View Post
Those are pretty much in line with what we pay. Our ages are 63 and 68. Four years into policy.

Those rates are reasonable for a couple buying a policy in their early to mid-sixties.

eliza61nyc is a single and in her late 50's. The quotes she posted were more than double the actual rates for the two companies she listed. She either misunderstood what the agent told her or the agent didn't run the software correctly.
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Old 09-26-2017, 11:52 AM
 
29 posts, read 17,038 times
Reputation: 35
My mother lives in New York, we decided to get her LTC coverage recently. Select Care home health services helped us understand all the details and help us find a good provider.
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Old 09-26-2017, 01:04 PM
 
Location: Philadelphia/South Jersey area
2,883 posts, read 1,409,584 times
Reputation: 10113
Quote:
Originally Posted by LTCShop View Post
Those rates are reasonable for a couple buying a policy in their early to mid-sixties.

eliza61nyc is a single and in her late 50's. The quotes she posted were more than double the actual rates for the two companies she listed. She either misunderstood what the agent told her or the agent didn't run the software correctly.


I actually have another meeting. I remember you said to skip AARP so I've got a meeting with state farm.

I have to say, I do hate the fact that they just wont do phone meetings.

I did get this in my email today from oblivious investor.

Should I Buy Long-Term Care Insurance?

http://www.naic.org/documents/cipr_c..._insurance.pdf (fair warning, a long read and I haven't finished it yet)

As far as whether or not it’s possible to pay out of pocket for a long-term care cost, it’s helpful to remember that long-term care cost isn’t purely in addition to current living expenses, as the cost of such facilities typically includes some things that are currently a part of your normal budget — meals, for instance. Plus, other expenses (e.g., travel and possibly housing) naturally disappear or nearly disappear when a person enters a long-term care facility.

According to a 2016 report from the National Association of Insurance Commissioners (with credit to Christine Benz’s excellent “75 Must-Know Statistics About Long-Term Care” for directing me to the report), for people turning age 65 in 2015-2019:

48% are expected to have no long-term care costs during their lifetimes,
15.4% will have costs of up to $50,000,
9.7% will have costs of $50,000-$100,000,
11.7% will have costs of $100,000-$250,000, and
15.2% will have costs that exceed $250,000.
Another noteworthy point: people with lower incomes are more likely to have an extended need for long-term care. (See Table 5 on page 35 of the NAIC report.) This isn’t surprising, since people with lower incomes are often in worse health than people with higher incomes. But it certainly makes planning even more challenging for lower-income.


So I will be honest and I still am most comfortable with the plan my FA and I came up with.

Last edited by eliza61nyc; 09-26-2017 at 01:26 PM..
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Old 09-26-2017, 08:15 PM
 
6,893 posts, read 7,297,903 times
Reputation: 9791
I'm still OK with my self-pay plan also.
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Old 09-27-2017, 04:00 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
Reputation: 6379
^^^^^^^


Same here. We are still okay with self funding our own LTCi. Chances are on our side by looking at those percentages.
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Old 09-27-2017, 04:19 AM
 
71,778 posts, read 71,875,234 times
Reputation: 49331
the only problem with "chances " is we only have 2 outcomes . it happened to us or it didn't .
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Old 09-27-2017, 05:00 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
Reputation: 6379
Quote:
Originally Posted by mathjak107 View Post
the only problem with "chances " is we only have 2 outcomes . it happened to us or it didn't .
the issue I have with that statement is that the statistics quoted above show multiple degrees of outcomes. it is in those degrees that I feel safest.
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