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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.

If you will follow the "Protecting Assets" thread on this Board, you will find a discussion of long-term care insurance. At 51, $500.00 per year seems fairly reasonable. At 54 I enrolled in the Metlife coverage through AARP (you must be a member of AARP to receive the discounted rates), and my cost is $34.52 ($414.25 yearly) if debited from my checking account monthly (you save $2 per month doing it this way.) I suggest you enter, click Insurance and find you way to the long-term care insurance section. YOu may calculate your premiums after chosing the coverage you desire. It may be that your coverage through your employer includes automatic inflation protection which is a lot more expensive under my plan. Also, check to see if the coverage you are offered is for lifetime coverage - very important.

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