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I am a caregiver for my husband . Worried if something happens to me, how I will get care. Should I buy long term care insurance?

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Dad bought momma a Long Term Care policy when she was 61 and we have been using it for the past six years. It covers every bit of her assisted living fee of a little over $6000.00 a month. I don't have to use her SS or dads pension to pay for her assisted living. She still has some left over that she is using. Now we did have to pay for it. Her premiums were over $2000.00 a year and she paid until she turned 85 which at that time we were paying almost $4000.00 a year.
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Reply to akababy7
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See an elder Care Attorney.
While Long Term Care Insurance is a good idea if you can afford it often by the time we realize it is a good idea you either can't afford it or you have preexisting conditions that make it impossible.
An Elder Care Attorney can set up Special Needs Trusts or have other ideas that would help.
And because it is me...
Is your husband a Veteran? If so he may qualify for benefits through the VA. And depending on where and when he served it might be a little or a LOT.
And the VA will now pay spouses to care for the Veteran so that might help a bit. Contact your local Veterans Assistance Commission or your States Department of Veterans Affairs. Or you can contact the closest VA and ask to talk to a Social Worker.
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Reply to Grandma1954
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The best time to purchase it is before you reach age 59. The premiums increase at certain age milestones.

Look on Nerwallet.com or Bogleheads.org for better information from more appropriate sources.

Do you have a PoA? This is the most practical thing to put into place first. You should have all your legal ducks in a row so consult with an elder law attorney to get it done. If you don't, you'll become the ward of a court-assigned 3rd party legal guardian, like so many other elders. Don't let it happen to you.
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Reply to Geaton777
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At 73, I'm sure LTC insurance is way too costly. See an elder care attorney about various options you have, and the status of your finances, home ownership, etc.

Good luck.
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Reply to lealonnie1
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LTC insurance is very costly when you reach a certain age.
You certainly can explore it, but there are many reasons not to get it as there are TO get it. It will raise your monthly income, oft times making you ineligible for Medicaid when you need it unless you access Miller or OIT trust. And it will not, even with your SS, be enough to cover good ALF or MC.

You will have to explore this issue thoroughly and I would suggest an elder law attorney with a list of assets and facts in hand to find out how best to move forward.
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Reply to AlvaDeer
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