Is it wise to buy long term health insurance. GE has a plan for I think $500 a year and you get $100/day when you need it for 4 years. Does that sound sufficient ?I am 51 yrs. old. Any other suggestions on long-term.Someone recommended we get it. It's our first look into these matters. Here's one opinion, based in part on input my wife and I received from a financial advisor a year or two ago, based also on studying the rate tables for the plan my employer offers, probably quite similar to yours from GE. (Metropolitan administers it for us; wouldn't be surprised to learn they do it for GE.)The financial advisor did think it a good idea but not for us yet because we're still too young. At the time he said it, we were around 55, 56. That was two or three years ago. I looked again this year, studied the rate tables for how the premium changes each year that you delay. My conclusion was that we should start next year, when I'll have just turned 59. After that, in the 60th year and after, the rates turn steeply upward.Now, they go up each year, and the younger you start, the lower the rate you lock in......... so it's a choice you have to make as to when, but that's the approach we've taken.mathetes
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