Sanity Check?
I am 71 DW age 70 TEXAS Took out LTC policies back when we were in our 50s. Original policy $ $180 per day: We had 3 year options to increase coverage and took it up to $232 per day Lifetime cap $464,000 Monthly charge $97.90 (I will use same for DW just to simplify) We had 1 "rate increase" several years ago and brace ourselves for another every year.
Sanity Check: They are offering the obligatory increase option again this year.
Additional coverage $37 per day $269.00 daily coverage MAX $538,000. Monthly premium goes to $162. + $64 per month.
Any opinions on the increase option or self insure for the differential? Aprox 14K per year coverage?
I am 71 DW age 70 TEXAS Took out LTC policies back when we were in our 50s. Original policy $ $180 per day: We had 3 year options to increase coverage and took it up to $232 per day Lifetime cap $464,000 Monthly charge $97.90 (I will use same for DW just to simplify) We had 1 "rate increase" several years ago and brace ourselves for another every year.
Sanity Check: They are offering the obligatory increase option again this year.
Additional coverage $37 per day $269.00 daily coverage MAX $538,000. Monthly premium goes to $162. + $64 per month.
Any opinions on the increase option or self insure for the differential? Aprox 14K per year coverage?