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Old 10-30-2014, 02:30 AM   #61
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finally got our policies approved yesterday. almost a 3 month process.

i never knew each and every blood test result is stored on central data bases .

being pre diabetic they saw my last few blood tests had a1c tests over 6.5 ,even though with diet and exercise and no meds i am normal for now and came in normal on their tests i got charged a risk premium.

but at least at this point worrying about trusts and asset shifting is done.

we finally have a comprehensive base in place to our investment pyramid that mitigates the worst damages we can sustain.
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Old 11-03-2014, 09:18 AM   #62
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It works for me

Originally Posted by rodi View Post
Thanks for explaining this. I was wondering how the spend down, and shared assets requirements for medicaid were "waived" by the LTCI person.

I don't think the medicaid deals work in PA, KY, or CA - the states I've looked at for family reasons.

The partnership program that mathjak refers to is in several states. I live in California and have the same asset protection. My wife and I both have policies. We have four years each with comprehensive plan at $200/day with 5% annual compounded inflation protection with a 90 day waitng period. Total cost per month was $303 total for both policies, but we chose a 10 pay to have it fully paid by my retirement at about $5000 per year per policy. This way I won't have to worry about future increases. My plan gives me nursing, assisted and home health care. It also allows for my home to be modified if necessary. With my partnership policy I also get a care coordinator that's included. We have $292,000 worth of benefits that increases every year by 5%. I was 51 when I bought the policy a few years back. I think it's worth it.
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Old 11-23-2014, 10:53 AM   #63
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Originally Posted by SJ1_ View Post
and make sure that that is what the policy actually says. What a salesman
said or didn't say will not matter 30 yrs from now, what is in the policy will.

I was under the impression that there is no such think as a policy that
does not have the premiums go up? and that is one of the main reasons

LTC is a waste
Here is another reason.... who says they will ever pay?

Jim Kramer on his dad.

He bought that long-term care insurance so he could be independent.

When he had a stroke three years ago and needed round-the-clock help, we had to fight those sons of bitches who wrote the policies to get the money they owed him to pay the nurse. I hate those guys because they tried to beat their obligations. We wouldn't let them get away with it, but don't tell Pop, because getting them to keep their word cost us almost as much as what the reimbursement was worth. I won't mention the company's name, but it was a disgrace, and if you have that insurance or your loved ones do, be prepared for them to try to screw you. I hope they won't. But many will try. I know that now.

Jim Cramer on His Dad: ‘Our Last Day Together Was Our Best One’ - TheStreet
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Old 11-23-2014, 11:14 AM   #64
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That's why LTC and medical insurance in general are the worst for trying to weasel out. The people they are dealing with are almost always incapacitated and cannot keep up with all the intrigue.
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Old 12-02-2014, 04:23 AM   #65
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rules for older ltc policies were written like variable annuity products . it was impossible to know what you were going to get paid on or not. there were gray areas everywhere.

our policy is very short ,sweet and fully layed out in english with little exception and or gray areas. you pretty much are going to see the deal right in print today that you get.

when we first looked into ltc insurance a decade ago we dropped the idea because i couldn't figure out exactly what we would get paid on,everything had a but attached.

today that is no longer the case in our policy.
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