Has anyone thought about Long Term Care Insurance?

[Tuskalusa]

Hi Friends!  Wanted to get your thoughts on something that has come up in discussion with my friends. We’re all aging Gen X...probably all still reeling a bit from Luke Perry’s passing.

We’ve started talking about long term care insurance and whether it’s worth the cost. On 5he one hand, it’s an expense that we might not ever need. On the other have, it can be an extremely costly expense item where insurance might really help.

Has anyone done any analysis on this one. Would love to hear your thoughts. Would also love to hear and thoughts on costs of LTC insurance. It’s been hard to find much info, as every sales person wants to set up a meeting and give me their spin.

[Greystache]

Here is a link to Darrow Kirkpatrick's thoughts on the subject.
https://www.caniretireyet.com/long-term-care-insurance-why-we-arent-buying-it/

[hops]

We're in the minority on this but it's something we'd love to be able to purchase one day. With our preexisting conditions (which have been around since childhood and aren't going anywhere) we're terrible candidates for approval.

There used to be a blogger at GRS who was a financial train wreck. Commenters there and across the PF blogosphere often criticized her for carrying LTCI because she was quite young. But she knew she had a high chance of inheriting a disabling disease. I ran across a comment of hers at a financial blog a few months ago and she mentioned that she had indeed inherited the disease and already had at least one period of disability as a result. My first thought was "Hope she kept that insurance."

[Tuskalusa]

Thank you both for your insights. This article was one of the first I’ve seen with a financial analysis. Thanks!

[iris lily]

We're in the minority on this but it's something we'd love to be able to purchase one day. With our preexisting conditions (which have been around since childhood and aren't going anywhere) we're terrible candidates for approval.

There used to be a blogger at GRS who was a financial train wreck. Commenters there and across the PF blogosphere often criticized her for carrying LTCI because she was quite young. But she knew she had a high chance of inheriting a disabling disease. I ran across a comment of hers at a financial blog a few months ago and she mentioned that she had indeed inherited the disease and already had at least one period of disability as a result. My first thought was "Hope she kept that insurance."

That’s not Honey is it? Or was it Heather? One of those H  names.

[ormaybemidgets]

We're in the minority on this but it's something we'd love to be able to purchase one day. With our preexisting conditions (which have been around since childhood and aren't going anywhere) we're terrible candidates for approval.

There used to be a blogger at GRS who was a financial train wreck. Commenters there and across the PF blogosphere often criticized her for carrying LTCI because she was quite young. But she knew she had a high chance of inheriting a disabling disease. I ran across a comment of hers at a financial blog a few months ago and she mentioned that she had indeed inherited the disease and already had at least one period of disability as a result. My first thought was "Hope she kept that insurance."

That’s not Honey is it? Or was it Heather? One of those H  names.

Honey! Where does she write now?

[hops]

Honey! Where does she write now?

I'm not sure if she blogs anymore. What I read was a comment in response to someone else's PF-related post; she identified herself in it. I'd link here but am not really sure about the etiquette. If she's not writing publicly anymore she might not appreciate the rubbernecking.

[iris lily]

Honey! Where does she write now?

I'm not sure if she blogs anymore. What I read was a comment in response to someone else's PF-related post; she identified herself in it. I'd link here but am not really sure about the etiquette. If she's not writing publicly anymore she might not appreciate the rubbernecking.

I think yoir hesitation is right, dont share the link.

[Beardog]

... We're in the minority on this but it's something we'd love to be able to purchase one day. With our preexisting conditions (which have been around since childhood and aren't going anywhere) we're terrible candidates for approval. ...

Even if you would have trouble buying LTC on the open market, you may be able to buy it from an employer one day.  I have two such insurances through employers, and would definitely have trouble buying them otherwise.