Author Topic: Has anyone thought about Long Term Care Insurance?  (Read 848 times)

Tuskalusa

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Has anyone thought about Long Term Care Insurance?
« on: March 12, 2019, 09:38:21 PM »
Hi Friends!  Wanted to get your thoughts on something that has come up in discussion with my friends. Weíre all aging Gen X...probably all still reeling a bit from Luke Perryís passing.

Weíve started talking about long term care insurance and whether itís worth the cost. On 5he one hand, itís 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. Itís been hard to find much info, as every sales person wants to set up a meeting and give me their spin.

Greystache

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #1 on: March 13, 2019, 08:50:50 AM »
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

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #2 on: March 13, 2019, 09:04:15 AM »
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

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #3 on: March 13, 2019, 10:38:24 PM »
Thank you both for your insights. This article was one of the first Iíve seen with a financial analysis. Thanks!

iris lily

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #4 on: March 14, 2019, 02:45:07 PM »
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."

Thatís not Honey is it? Or was it Heather? One of those H  names.

ormaybemidgets

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #5 on: March 14, 2019, 02:51:54 PM »
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."

Thatís not Honey is it? Or was it Heather? One of those H  names.

Honey! Where does she write now?

hops

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #6 on: March 14, 2019, 04:31:24 PM »
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

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #7 on: March 15, 2019, 03:04:42 PM »
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

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Re: Has anyone thought about Long Term Care Insurance?
« Reply #8 on: March 16, 2019, 01:14:33 PM »
Quote
... 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.