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The concern really is not our expenses but our potential expenses
I get that too. I'm in a quandary with my LTC insurance right now. They are offering to buy out our policy for the return of our premiums to date, or face yet another premium increase this year, with another planned for next year. When does all this rate stuff stop? Am I ever going to even use it? Will the whole policy get cancelled at sometime in the future with NO return of premium? Just money thrown into a doomed policy?
This was supposed to have been a done deal, and now, 15 years later, I'm puzzled. The plan was really good, but they've been chipping away at the benefits, and increasing premiums. Can I read the handwriting on the wall? Should I just roll the dice that I'll never use it anyway? If I don't get the return of premiums now, will that ever be offered in the future? Arrrggghhh!
I get that too. I'm in a quandary with my LTC insurance right now. They are offering to buy out our policy for the return of our premiums to date, or face yet another premium increase this year, with another planned for next year. When does all this rate stuff stop? Am I ever going to even use it? Will the whole policy get cancelled at sometime in the future with NO return of premium? Just money thrown into a doomed policy?
This was supposed to have been a done deal, and now, 15 years later, I'm puzzled. The plan was really good, but they've been chipping away at the benefits, and increasing premiums. Can I read the handwriting on the wall? Should I just roll the dice that I'll never use it anyway? If I don't get the return of premiums now, will that ever be offered in the future? Arrrggghhh!
We just had our 6th year with our nys partnership plan with no increase , even though the policy kicks up its payout by 5% a year.
I get that too. I'm in a quandary with my LTC insurance right now. They are offering to buy out our policy for the return of our premiums to date, or face yet another premium increase this year, with another planned for next year. When does all this rate stuff stop? Am I ever going to even use it? Will the whole policy get cancelled at sometime in the future with NO return of premium? Just money thrown into a doomed policy?
This was supposed to have been a done deal, and now, 15 years later, I'm puzzled. The plan was really good, but they've been chipping away at the benefits, and increasing premiums. Can I read the handwriting on the wall? Should I just roll the dice that I'll never use it anyway? If I don't get the return of premiums now, will that ever be offered in the future? Arrrggghhh!
That was what we saw as our future if we went with LTCi. Right now I am pleased at our decision.
Quote:
Originally Posted by mathjak107
We just had our 6th year with our nys partnership plan with no increase , even though the policy kicks up its payout by 5% a year.
What company ? We have gensworth
If I don't miss my guess she is with FLTCIP, John Hancock underwrites it.
Please don't make up stuff I never said. I never said half a million in the bank was "requisite", but that some people with less than $25k taxable income per year might have much larger savings of some kind or the other (such as half a million in the bank... or a million and a half in annuity premiums... or both :-). But it is not requisite to have that, since $25k per person per year is enough to live normally in the US if one owns a place to live (which can be a small condo that can be found for well below $260k in lower-cost places). You said half of those on Medicare who have incomes under $26k, would not need more income if they also had half a million in bank accounts. You also indicated that they should live in places where $20k lets you own a small condo and manage ok. So, if a retiree has an average income, he is restricted into living where $20k allows him.
Of course letters requesting a cola are heartbreaking, but that is because the author of the letter would like the cola if possible, not because he/she struggles. Dog food is not that much differently priced from human food. I very rarely eat meat, but that is because meat is not very healthy, not for financial reasons. So - you feel that retirees are eating dog food because they prefer it, not because of financial reasons? Really?
I get that too. I'm in a quandary with my LTC insurance right now. They are offering to buy out our policy for the return of our premiums to date, or face yet another premium increase this year, with another planned for next year. When does all this rate stuff stop? Am I ever going to even use it? Will the whole policy get cancelled at sometime in the future with NO return of premium? Just money thrown into a doomed policy?
This was supposed to have been a done deal, and now, 15 years later, I'm puzzled. The plan was really good, but they've been chipping away at the benefits, and increasing premiums. Can I read the handwriting on the wall? Should I just roll the dice that I'll never use it anyway? If I don't get the return of premiums now, will that ever be offered in the future? Arrrggghhh!
sounds we have the same insurance. We gladly just pay the increase each time as it is still a good deal. They are offering you options with reduced benefits at a lower premium. Likewise our insurance has a 5% annual benefit increase and that helps offset the cost.
If possible budget for the increases in future years. Fortunately for us we are able to do that. Remember the older you get the better it looks.
Like most insurance do you really want to use it? Do you want a car accident to use your car insurance?
A hurricane or fire to use your homeowner insurance?
Looking forward to the day you use your life insurance?
A law suit to use your balloon insurance?
Theft of jewelry to use that insurance etc etc etc
For any career, continuing education to remain relevant is necessary, especially in quickly evolving fields like computer science and engineering. Continuing education is also needed is when one is seeking promotional positions. Higher levels of training, and training in topics of concern that are not needed in lower level positions (supervisory skills, project management, knowledge of legal or current HR policies, logistics, licensing requirements, etc) are required to prevent obsolescence. And doing the minimum required hours of continuing education to maintain your license is not enough. One has to train to remain relevant, or you will get run over, or relegated to a remote, outmoded corner of your field. And then heaven help you if you get down-sized. Your dinosaur ways will not interest future employers.
I worked with folks who stayed in one position at our agency for their entire career because they never availed themselves of readily available training opportunities. If that was all they aspired to, fine I suppose, but their salary increases then would be limited to COLAs. I, and certain others at my workplace, were constantly engaged in training on emerging technologies and best practices in our field, as well as the skills needed for higher level positions. Consequently we found ourselves on the promotion track when desirable opportunities arose. College can't teach you about technologies that didn't exist when you were in college, but current knowledge and skills are necessary, and recognized as such by employers.
It's not enough to pick a field that's relevant today. One has to be reading the trade publications, and keeping an eye on trends, and absorbing everything new like a sponge, if one wants to remain employable/promotable in today's fast-evolving employment world. Career "luck" comes about in two ways, by tripping over something good in your path, or by making your luck by having the interest and drive to push yourself to your goal, and expand your knowledge and capabilities. When I hear stories of people who were down-sized and then not able to re-enter employment in their field, I wonder how much they sought to keep up with the times in their field, or were they just "unlucky"?
Wandered off topic a bit there...but the "luck" and engineering posts sucked me in.
after the Justice Dept broke up AT & T,many long time employees cannot find comparable job ,they either have been doing the same job most of their working years with the company or they are too highly paid for their skills
We don't have partnership policies here. My plan was through a company contracted through CalPERS, which manages my municipality's pension plan.
Is it TransAmerica?
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