I know my aunt and uncle paid a lot of money for their policy, but in the end it paid nothing, because they both stayed in their homes until they died, and the caregivers they hired weren't "qualified" in the eyes of the insurance folks.
I know very little about the policies overall, but if you have any expectation of being able to stay in your home for any period of time, know exactly what the policy will and won't pay for.
We have one because my husband wanted it, but I’m not sure I see a big plus side for us YET.
We bought it When I was about 100 pounds over weight, and my policy was ENORMOUSLY COSTLY compared to his, and we saw a big cost reduction after I lost the 100 pounds, but I think women usually pay more because they usually live longer, therefore needing longer care, than men.
My husband is ready to revisit the terms, so if he comes up with anything interesting, I’ll post…..
Talk to a professional about this. I only know about my mom's LTC policy and it's garbage. Mom and dad spent a lot on it and it pays out $25 a day toward care. They must have bought it in 1950.
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I know very little about the policies overall, but if you have any expectation of being able to stay in your home for any period of time, know exactly what the policy will and won't pay for.
We bought it When I was about 100 pounds over weight, and my policy was ENORMOUSLY COSTLY compared to his, and we saw a big cost reduction after I lost the 100 pounds, but I think women usually pay more because they usually live longer, therefore needing longer care, than men.
My husband is ready to revisit the terms, so if he comes up with anything interesting, I’ll post…..
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