1. Sunday, January 5, 2014 - 8:56 AM
You do the best you can to research the track records of the companies that still issue LTC policies. Other than that, you will only really find out if, and when, you have to put that policy into force.
2,272 posts since
Apr 6, 2010
Rep Points: 11,983
2. Sunday, January 5, 2014 - 12:42 PM
We did not have long term care insurance. I was in good health and was able to care for my husband for the last 5 years when he needed around the clock care. I would not have wanted
him in a nursing home. I would not have wanted it any other way. I know that everyone is not capable of doing this.
For myself, I think that I will have enough with SS, IRA RMD's, my pension, savings and sale of the house to pay for everything that is needed. Usually people are in nursing homes more no than 3 years but of course there are many exceptions. I have told my children, I, under no circumstances want to move in with them. They have their own lives to lead and I want them to do it. They can visit. I have made my healthcare divisions for end of life and what I want done in many situations. Both hospitals in town, my doctor and my children have a dated copy. If you want things done your way than get it done.
We can only plan and hope for the best. Make a decision, let family members know what your decisions are and stick with it. Worry can make you sick.
690 posts since
Jan 16, 2010
Rep Points: 2,019
3. Tuesday, January 7, 2014 - 8:49 AM
Unfortunately, what I want done at the end days of my life is not legal "yet" in this country. That is why thousands of the elderly are doomed to suffer and cry out their last years in nursing homes without visitors. Next life I want to come back as an animal!
1,074 posts since
Aug 10, 2011
Rep Points: 4,876
4. Wednesday, February 12, 2014 - 12:14 AM
Long term care insurance is not for everyone but it doesn't mean that you shouldn't consider this as you are nearing your retirement years. Everyone is actually at risk of requiring long term care according the recent report stating that 70% of Americans who are 65 years old and above will require care and 41% of those who are below 65 years old will also need long term care but due to disability, injury and illness. This report only shows that everyone should prepare and plan for ltc. Since the cost of care is continuously soaring, it's recommended to purchase private insurance for this. Without ltc insurance, you'll end up exhausting all your savings or worse you'll become a burden to your family. You can financially secure your future by reading reliable resources about long term care insurance from other reputable sites.