Long Term Care Insurance: Soliciting Opinions

ZMAN · 12-20-2006, 06:08 PM

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.

**REWahoo** · 12-20-2006, 06:36 PM

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!!!)

12-20-2006, 06:08 PM	#1
ZMAN Dryer sheet aficionado Join Date: Dec 2006 Posts: 47	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.

12-20-2006, 06:36 PM	#2
REWahoo Administrator Join Date: Jun 2002 Location: Texas Hill Country Posts: 11,616	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!!!) __________________ [Closed for renovation]

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