radmoo
TUG Member
I took out LTC policy in 2007 just shy of turning 55 as it put me in lower premium bracket. My carrier is John Hancock and there has been one premium increase to date.
Premium is $91+/- month
I took out LTC policy in 2007 just shy of turning 55 as it put me in lower premium bracket. My carrier is John Hancock and there has been one premium increase to date.
After seeing the amount of money my friends have spent on LTC for their parents my husband and I bought LTC policies from Genworth about 2.5 years ago. We are currently 63 and 64 years old and in good health. Our monthly premiums are 250.29 for me and 278.21 for my husband. They cover $250 per day in a facility or at home. I could not see paying $12000 per month as my friends did!
I am also looking for good health insurance company in New York.. Please help!!
Premium is $91+/- month
That's a very good rate! Wonder what it is now?
It's never too early to sign up for LTC, we got in mid forties, fifteen years ago. I just got my annual statement with 5% inflation increase. My premium is $87.77 a month.
Nursing home 100% up to $215/day
Residential Care 100% up to $150/day
Home & Community Care 100% up to $4515/month
Inflation Protection included
90 day deductible period, once per lifetime.
Waiver of Premium included
Return of Premium Death Benefit included
Through my retirement system - Calpers.
we went through complete liquidation of parents estate for dementia care, not fun.
It's never too early to sign up for LTC, we got in mid forties, fifteen years ago. I just got my annual statement with 5% inflation increase. My premium is $87.77 a month.
Nursing home 100% up to $215/day
Residential Care 100% up to $150/day
Home & Community Care 100% up to $4515/month
Inflation Protection included
90 day deductible period, once per lifetime.
Waiver of Premium included
Return of Premium Death Benefit included
Through my retirement system - Calpers.
we went through complete liquidation of parents estate for dementia care, not fun.
Can anyone purchase this Calpers plan? No- it is, of course, for government employees! Anyway- just found this interesting link about Calpers and its' 85% premium hike to stay solvent. Read the comments below the article....http://calwatchdog.com/2013/02/20/outrage-at-calpers-85-rate-hike-for-long-term-care/
I do not recall all the particulars but I purchased mid-level plan with inflation protection. As we live in massachusetts! our estimated health costs are higher than most. The plan allows for inpatient and/or in home care. I purchased as part of Hadassah group which was actually less costly than what wS being offered by AARP or my employer( employer benefit wad not available when I took out this coverage.). I would suggest checking with cations organizations to see if they have insurance options.Doesn't it all depend on the benefits of the particular plan? This is a great rate relative to others posted here but we don't know what's included.
I've been reading this thread with interest. I'm younger than many of you but have been considering obtaining a policy since rates should be lower now than in the future for me.
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Back when I was about 45 I bought a LTC Policy. Increasing premiums, policy limits and benefit reductions soured me on it. I have the money so I opted to move into (see below) a CCRC (Continuing Care Retirement Community) where my monthly rent is significantly more than double what I would be paying for LTC Insurance. It costs me about $2,000 a month.
I say "move into" which is not quite accurate. I have my apartment there; it is already 100% furnished with my stuff; I eat there 4 or 5 times a week; I socialize there; all my mail goes there; but I live off campus in a duplex. The advantages of this are that I don't have to look for a place in a pressure situation; I am guaranteed coverage for life, not just a number of years; etc. All I have to do to move in is move my clothes which are not already there.
Yes, it is more costly, significantly more than double the cost of a Premium LTC Policy, but it gives me comfort that my kids won't have a problem finding me a place and convincing me that it is time to go and that the place they have chosen is suitable for me.