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Long Term Care Insurance: Soliciting Opinions
Old 12-20-2006, 05:08 PM   #1
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Long Term Care Insurance: Soliciting Opinions

What does the group think of Long Term Care Insurance (LTC)? DW and I are in mid-fifties and close to FIRE. We are in good health and do not smoke.

We are thinking of LTC policies with a $225 starting benefit (good for my area), lifetime benefit, a 5% compound interest factor and a long elimination period of 180 to 360 days or even more. We would use a highly rated LTC carrier (Weiss B+ or better) with the policies containing the appropriate bells and whistles.

We see this as a form of asset protection to insure against a catastrophic loss so we dont have to take a substantial hit from long term stay(s) in a nursing home.

Is this a good idea or a speculative waste of money? Thanks.

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Re: Long Term Care Insurance: Soliciting Opinions
Old 12-20-2006, 05:36 PM   #2
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Re: Long Term Care Insurance: Soliciting Opinions

ZMAN, there have been several threads discussing long term care coverage. I suggest you do a search on "LTC" and see what comes up.

Hint: Opinions vary (SUPRISE!!!)

Numbers is hard.

Retired in 2005 at age 58, no pension

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