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Author: zsimpson Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5084  
Subject: Long-Term Care Date: 9/22/2003 11:54 AM
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I've been lurking for a while (I know this is amazing some people). I haven't seen a ton about long-term care insurance (I haven't been able to read all the posts, either). A few questions if I may....
Does anyone have it?
What does it cover?
How much does it cost?
At what age did you first get it?
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Author: TMFDj111 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 804 of 5084
Subject: Re: Long-Term Care Date: 9/22/2003 12:00 PM
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I haven't seen a ton about long-term care insurance (I haven't been able to read all the posts, either).

You may find this information helpful:
http://www.fool.com/insurancecenter/longterm/longterm.htm

I found this thread on TMF's Insurance - Life, Car, Home,etc. discussion board:
http://boards.fool.com/Message.asp?mid=19424918&sort=whole

You may want to search through the posts on TMF's Insurance - Life, Car, Home,etc. discussion board more carefully and perhaps post your question there:
http://boards.fool.com/Messages.asp?bid=100156

I also suggest checking with your employer, any professional societies to which you or your spouse may belong, your religious congregation, and AARP.

David Jacobs
TMFDj111

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Author: zsimpson Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 806 of 5084
Subject: Re: Long-Term Care Date: 9/22/2003 1:16 PM
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I also suggest checking with your employer, any professional societies to which you or your spouse may belong, your religious congregation, and AARP.

Um, I am my employer, Hubby is retired, I am a "fallen sparrow" as the church calls it, and I flat-out refuse to join that leftist, socialist group also known as the AARP, but I appreciate the links a lot.

I've been looking into it because Hubby is retired and we have little ones (just a couple of old farts having kids). Although I have no doubt my darling dearest will live a long life, the "healthy" part is not quite so definite. As we have the girls (ages 6 & 4), I need to be fairly comfortable that I can also care for them should anything happen to him (or the he can care for them should anything happen to me).

It's amazing how much less financially stable life seems when there are Munchkins involved. Our finances are not much different than before the girls were born, other than I was working outside the home and now I have a home business, yet it seems like the same financial net worth is so much less.


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Author: TMFDj111 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 807 of 5084
Subject: Re: Long-Term Care Date: 9/22/2003 2:29 PM
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Um, I am my employer, Hubby is retired, I am a "fallen sparrow" as the church calls it, and I flat-out refuse to join that leftist, socialist group also known as the AARP, but I appreciate the links a lot.

How about whatever associations support your industry?

Is there a group of small business owners in your industry or your geographical area who might pool their resources to purchase goods and services the members of the group need to purchase for their businesses?

Have you considered posting a question on TMF's Self-Employed Fools discussion board to see whether and how those folks buy long-term care insurance:
http://boards.fool.com/Messages.asp?bid=112952

Does the firm that provides your home, health, auto and other insurance products have an "education foundation" that offers materials describing their products, services, and methods for guesstimating how much you need?

Have you considered hiring a money advisor to help you do the research you need to make informed judgments? In contrast to a financial manager, a money advisor will help you sort through your priorities and do the research you have to do to make informed decisions about your finances and financial future. Then you have the burden to implement your own decisions.

David Jacobs
TMFDj111

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Author: TMFDj111 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 808 of 5084
Subject: Re: Long-Term Care Date: 9/22/2003 3:18 PM
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Does the firm that provides your home, health, auto and other insurance products have an "education foundation" that offers materials describing their products, services, and methods for guesstimating how much you need?

You may find this link useful:
http://www.usaaedfoundation.org/insurance/he09.asp

David Jacobs
TMFDj111

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Author: Betsysmom Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 810 of 5084
Subject: Re: Long-Term Care Date: 9/22/2003 5:36 PM
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Dave Ramsey, the radio debt-free living finance guy, says long term care insurance doesn't make sense until age 60 (statistically speaking, your chances of needing it before then are tiny, and if you wait too long after that, rates go sky-high).

He also says to look for a policy that provides in-home care, and look for coverage that has an inflation adjustment in it.

Betsysmom

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Author: zsimpson Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 817 of 5084
Subject: Re: Long-Term Care Date: 9/23/2003 12:36 AM
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How about whatever associations support your industry?

Ebay has a support association??? TOOO COOOL!!

Does the firm that provides your home, health, auto and other insurance products have an "education foundation" that offers materials describing their products, services, and methods for guesstimating how much you need?

That's a great thought! Thanks!

Have you considered hiring a money advisor to help you do the research you need to make informed judgments? In contrast to a financial manager, a money advisor will help you sort through your priorities and do the research you have to do to make informed decisions about your finances and financial future. Then you have the burden to implement your own decisions.

This will probably sound fairly egotistical (so do half the other things I say), but I like doing my own research, I just wanted opinion sfrom folks that might have it already. I like the links, though, I'll add the to the collection that I'm building up to decide who and where to go with it. I know we will be getting LTC inzurance, it's just a matter of the details to go with it.

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