foxfirev5
Thinks s/he gets paid by the post
- Joined
- Mar 22, 2009
- Messages
- 2,991
This is a great description of my mindset.
I am self-insuring.
In a sense, with a policy that only pays for four years, you too are self-insuring for any long term care situation that lasts beyond four years. Your LTC policy pays $216/day for four years, that comes to a total of $315,576 right now. It will increase, but so will my portfolio at some rate beyond inflation, I presume. If one runs FIRECalc and specifies that, say, a minimum of $500K must remain in the portfolio at all times, that half million could be used for LTC.
Exactly. I can not see how LTC insurance could be compared to term insurance or some of the other parameters suggested here. It's a rolling crap shoot at this point and everyone should probably look out for their own best interests. Buyer beware