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Not to jump in but ok, let them be happy in their choice and let life go on with all of us happy with our decisions. …... Best of outcomes to both of you.
I am confused by what I just said about wishing things work out for each of you and what that really means.
Am I saying I hope your plan works out and you get to use your LTCi and get maximum ROI on it?
Am I saying I hope that Selhar lives a long and healthy life and lives pass 95 w/o ever needing LTC?
Am I saying that I hope all of us live healthy beyond 95 and never need LTC whether we have insurance or not?
Oh well let me exit this dog fight now and wish you each the best of aging!
In my opinion the best of outcomes for both of us is to never need LTC. But then there are people here that want to rag on me for making a terrible "investment" since I won't collect. I am just pointing out that collecting on insurance is NEVER the plan.
I assume the purpose of these threads is to actually have a discussion that ALL can possibly learn from. I don't understand the personal attacks and out right jealousy. When I'm replying half the time I don't even know who the poster is I'm just replying to what they stated.
I did look back to see who S is and his/her plan and seems to be a 56 year old that has three years of care covered ($300,000?) and has frustrations with insurance in general and doesn't seem to care if he becomes disqualified from obtaining LTCi. That is obviously S's happy spot.
But for any OTHER readers I want to point out that 3 years of LTC thirty years from now may very well cost close to $1,000,000+. Is that evil of me? Then in a real discussion someone could point out how someone could grow that $300,000 into the needed $1,000,000. But then I would point out how then you have $1,000,000 earmarked for LTC whereas if your costs for LTCi is only $100,000 over that time that you would be free to SPEND $900,000 MORE money by having the insurance. Am I evil for mentioning that? Geez, it is NOT a competition!!!!
If one chooses to go with LTCi, does that person need to know what state they will use that insurance in? What if said person decides to move to a different state in 10 years? I ask because I've never researched LTCi and I don't know those kinds of details.
If one chooses to go with LTCi, does that person need to know what state they will use that insurance in? What if said person decides to move to a different state in 10 years? I ask because I've never researched LTCi and I don't know those kinds of details.
There are multiple answers to that question as there are general policies and some states have partnership plans. Also general policies will be written to comply with language and guidelines per the state insurance commissioner of the state you reside in. Usually transferable but you need to match the language in the policy with the language in the state you will use it in to determine eligibility.
I don't know what state I'll be living in when I'm 65 or older. It could be my current state, or it could just as easily be a different state. Seems like that's something important to get nailed down and it's not something I can determine at this time.
I don't know what state I'll be living in when I'm 65 or older. It could be my current state, or it could just as easily be a different state. Seems like that's something important to get nailed down and it's not something I can determine at this time.
Not really as long as you get a policy applicable nationally.
I would gladly have mine double and pay it if it assures the financial viability of the insurance moving forward. Would hate for the company to go belly up when I am 82 or while receiving benefits.
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I am confused by what I just said about wishing things work out for each of you and what that really means.
