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URL:  http://boards.fool.com/i-chose-the-3-year-benefit-because-if-i-should-18656158.aspx

Subject:  Re: Long Term Care Insurance Date:  2/26/2003  9:43 PM
Author:  ibnana Number:  8380 of 19483

I chose the 3 year benefit because if I should need more I hope someone shoots me dead!

LOL!! I like your thinking, Birgit! So what you're hoping is that you would use your 3 years in at home care or assisted living, and never get to the nursing home! Is Laurel Lake still going strong in Hudson?

It also makes gifting more palatable knowing you have the LTC expense risk covered

I hadn't thought of that angle and I do intend to do some gifting toward 529 plan, if nothing else.

John Hancock is the one I'm considering. The agent represents other companies, but she said she liked JH the best. I hadn't thought of applying to more than one. A friend of mine here went with Prudential and it was a little more expensive for what seemed to be the same coverage. Our State Farm agent got me thinking about it to start with, but theirs was quite a bit more expensive and I don't think they have been in the LTC coverage business all that long. I want a company with a good track record.

I would consider $210/day benefit amount (tax issues)

What tax issues? I don't know what you're referring to here. If it's about deducting the premium, that wouldn't apply in our case anyway.

I suppose I can ask about it for DH, but the agent said the bypass would not rule him out as much as the diabetes would plus he also has another medical condition. DH does not seem to want to discuss it or deal with the thought of "nursing home care" anyway. I do recognize that if he should need care it could drain our resources as to what I would then have available.

This thread has been very helpful!

Carol

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