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My mother and I will be meeting with her financial advisor to look at the estimates he received for LTC insurance for her (I requested he check into it). His company doesn't sell it, but he can connect with 3 companies to get us estimates.

My mother has about 1,000,000 in retirement accounts and her advisor told us that this puts her right at the point where she could go either way (get it or not get it). She doesn't access the above accounts, but she just started having to take distributions from her 401k (which she is reinvesting). She lives off of social security and my father's pension.

Although we haven't met with the advisor yet, there was some discussion about if you choose to pay the full amount up front (150k in her case), then if not used, your beneficiaries would get the money back (or you will if you decide to pull looks like they use some sort of cash surrender value system where you would get the full amount back after 10 years). The 150K would give her 3 years at $7,000 per month (or longer based on how much she uses). I don't know how much of it is crap, but I figure we might as well check it out.

I suppose part of the cost/benefit analysis will include any kind of piece of mind it may give her. My mother was the typical homemaker and is brand new to anything financial (my father passed away two years ago), and in general, any financial discussion makes her very anxious. I do think that she has some fears around "having enough".

Would love to hear others thoughts on this.
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