Taking care of my mother and watching her money dwindle has me fearing the future. Just had a long term insurance agent here to talk about my husband and my plans. Do any of you have long term insurance for yourself? Do your folks have it? It would cost us $8000 a year. What a gamble. Us gambling we'll continue to be able to afford it - or my working to pay for it. And the insurance company gambling we'll pay for 20 years and die before we receive a dime.
What are others' thoughts on LTC? We have a house, assets, retirement and IRA's Does paying this kind of money on LTC really make sense or is it a scare tactic for the insurance companies?
Thanks for your opinions
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lifeinsuranceguideline/cheap-term-life-insurance-for-seniors/
Purchasing insurance products today to protect your assets and cover your care expenses makes sense and should be done by everyone nearing retirement. But before jumping the gun, make sure to consider the cost and even the company to avoid inconveniences later on. To help you find the long term care insurance company for you, here are some resources you can use:
http://www.aaltci.org/long-term-care-insurance/learning-center/company-ratings.php
freeltcquotes/long-term-care-insurance/companies-ratings/
aaltci.org/
infolongtermcare.org/long-term-care-insurance-information/
Consumers are not forced to buy long term care insurance, in fact they are encouraged to talk to a specialist first and have their needs assessed first. In this way, you'll have an idea how much coverage you'll buy and the most suitable policy type for you.
http://www.aaltci.org/long-term-care-insurance/learning-center/company-ratings.php
Here are a few articles within our site that may answer your caregiving question.
https://www.agingcare.com/articles/Definition-of-long-term-care-insurance-143436.htm
https://www.agingcare.com/articles/tips-for-purchasing-long-term-care-insurance-143641.htm
https://www.agingcare.com/articles/shared-long-term-care-insurance-151804.htm
https://www.agingcare.com/Answers/age-limit-prevent-person-getting-long-term-care-152669.htm
https://www.agingcare.com/articles/use-a-life-insurance-policy-to-pay-for-long-term-care-157309.htm
Hope these help.
Best Regards,
Ashley T.
The AgingCare.com Team