LTC advice

[Independent]

Quote:

Originally Posted by brewer12345 To be clear, those are the companies I think have extremely strong financial profiles, not necessarily ones that sell LTCI. To my knowledge, Thrivent has not sold that product in many years.

Yes, that's what I thought. But your post prompted me to go look:
https://www.thrivent.com/products/insurance/

[brewer12345]

Quote:

Originally Posted by Independent Yes, that's what I thought. But your post prompted me to go look: https://www.thrivent.com/products/insurance/

Interesting. I wonder if they sell their own or another insurer's product.

[Al in Ohio]

Quote:

Originally Posted by Independent Has anybody cross shopped with Northwestern Mutual Life? My recollection from 10 years ago was that they have always been more expensive than everybody else, but as others have raised their premiums, the gap has narrowed. I like "Mutual" in this case. Maybe Brewer can say something about financial stability.

I had A NWM LTC policy from age 48 to 54 and just cancelled. I decided I'd rather self insure. They are more expensive than most, but probably more likely to pay your claim if they are still around when you might need it. Just remember, with most LTC policies your are might pay that annual amount forever. That's a lot of money that you might have to fight for to get a claim paid! I figured I'd rather set that monthly amount aside to invest as self insurance. $ 6,0000/ mo is also high ( I assume COLA)? Consider lowering the monthly coverage with a lower annual premium if you decide to get it. Your betting on high cost care. The house usually wins when gambling. I had less than $300 /mo coverage with inflation protection. So you are considering twenty times what I had! Course I was paying $1,150 annually which bothered me enough to eventually cancel.


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