No. of Recommendations: 11
My company (Motorola) had a decently priced LTC policy available, and the insurance company occasionally held on-site meetings to discuss it. Since 75% of us were engineers of one kind or another, they got a lot of detailed, well thought out, and sharp questions.

The one thing I remember is they said that if you were (relatively) poor, you needed the policy. If you were (relatively) rich, you didn't need the policy because you could easily pay for the care out of pocket.

He said the cross-over point was right around $1,000,000 in net worth.

They like to scare you with talk about the huge monthly costs of a LTC facility, but really once you divide it out it's not so bad. My Mom's (Alzheimer's) nursing home care cost $5000/mo. I explained to her (in a lucid moment) that her $1M would last for 15 years even with no growth, so she didn't need to worry.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.