|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Investing/Strategies / Retirement Investing |
||
|
URL:
http://boards.fool.com/i-was-almost-ready-to-take-the-step-of-buying-a-20188181.aspx
|
||
| Subject: Re: Avoid Long Term Care Insurance | Date: 1/21/2004 9:27 AM | |
| Author: 2old4bs | Number: 38665 of 72248 | |
|
I was almost ready to take the step of buying a LTC policy, when someone pointed me to this CR article, so I didn't. I also spoke with a friend of mine who is a financial advisor, and she pointed out that if you have big bucks put aside for retirement (i.e. > 1.5 mill) you're probably better off self-insuring. Others should wait until they're at least 65 to consider buying a policy, to avoid as many of those premium increases as possible. And you're right, there are benefit limits--most policies don't pay anywhere near 100% of the cost, and most have a maximum benefit period. I understand however that there are some states which will allow you to collect Medicaid without being destitute if you had a LTC policy, but its benefits have all been used up. So, I guess what I'm saying is that there are a lot of things to investigate, and a lot of things to analyze before buying a LTC policy. 2old |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||