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Subject:  Re: Long-Term Care Insurance Date:  4/8/2012  9:46 PM
Author:  BruceCM Number:  70515 of 80220

You might want to think about this, carefully (this post is a bit long, but it might be in your interst to read my thoughts)

Qualified LTCI is a result of HIPAA of 1996, with the first policies, as I recall, being sold in 1998. Prior to that, it was often called "Nursing Home" or "After Hospitalization" insurance, whose coverage varied widely between carriers. HIPAA standardized important provisions of LTCI, to include what may trigger benefits, offering inflation adjustors, tax treatment of premiums and future benefits, etc.

1. The concept of LTCI is like any other household catestrophic risks, such as property, liability (particularly auto), disability and life. However, it is the ONLY forms of insurance that you are paying premiums today for a benefit that, if ever triggered, will likely not happen for decades (permanent life insurance also collects premiums today for loss decades hence...but it can build cash value while QLTCI cannot, and death is inevitable, QLTC disability is not). This, IM