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Investing/Strategies / Retirement Investing
|Subject: Re: Big Problems wth LongTermCare Insurance||Date: 7/10/2013 4:11 PM|
|Author: JLC||Number: 72538 of 82231|
If you just paid all those premiums to yourself over the years, you'd probably be way ahead - with the exception of catastrophic healthcare insurance.
It all depends on what you are insuring against and why you have the insurance.
House insurance. When I was 30, if my house burned down, I couldn't rebuild it. Now that I'm almost 50, I could but it would take most of my retirement savings and set back my retirement date a few years. Sure over the past 20 years that policy cost a nice sum, but still not enough to replace the house.
When used properly, insurance protects you against catastrophe. LTCI, I'm still kind of iffy on.
I wonder how many of those companies selling it are publicly traded companies that have to worry about share holders?
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