No. of Recommendations: 1
This is in response to D-Mom and the Fools who have already replied to her statement:

"What I really want is a policy that is cheaper in premiums but provides catastrophic care. That is - I'll pay the cost of LTC for 3 years - I want insurance to cover the cost beyond that. But, that is just the opposite of what policies provide. Instead the premiums are high because what is being covered is the first few years of care."

You may be able to find a LTC policy with a 3-year exclusion period. We bought one last year from Mutual of Omaha with a 365-day exclusion period (benefits would start on 366th day).

That said, we're not renewing because it's just too expensive and not our best option. If worse comes to worst, we will be able to cover a good 5 years with a reverse mortgage. Is anyone else here using that as LTC insurance?

Ms C
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