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Investing/Strategies / Retirement Investing
|Subject: Re: Big Problems wth LongTermCare Insurance||Date: 7/11/2013 2:28 PM|
|Author: intercst||Number: 72563 of 77872|
FWIW, the average Social Security benefit is $1200/mo (minus $100 Medicare premium), so you'd essentially be turning over almost all your SS check to the insurance company.
Not only that, but most forms of private insurance seem to have a 20% to 30% skim rate (i.e., the overhead required to fund fancy office buildings, generous sales commissions, top flight legal help when executives are charged with crimes, etc.)
Does it really make sense to pay an extra 30% for your custodial care just to keep an insurance company CEO in jet fuel?
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