- Thread starter
- #11
Ned, I don't have that information. I had some of it at one time but threw it away when I decided to focus on health and leave the other stuff alone unless asked. I am sure if you contact MedAmerica, or even Honey Leveen (the lady who penned the article for HIU), you can get some answers.
Overpriced is a relative term. The cash LTCi plan was slightly higher in premium than more traditional plans, but so what? There are no moving parts like traditional, indemnity plans.
Eliminating the hassle factor, plus gaining the flexibility on the benefit side is worth something.
10 years ago we converted our attached garage into a suite for my MIL. My wife "moved in" with her and gave her 24 hour care for almost a year until she died. The apartment was self sufficient with galley kitchen, a large living area, bedroom, bath and plenty of closet space.
What we spent on the conversion, plus other improvements to the home was roughly equal to 18 months in a nursing home.
It was money well spent.
Not everyone is in a position to provide this kind of support, either financially or emotionally. Even though it was difficult on all of us it worked out in the end.
To me, LTCi is probably the most difficult sale to make. The folks who can afford it and qualify don't think they need it. The ones who need it can't qualify or afford it.
A real catch 22.
Overpriced is a relative term. The cash LTCi plan was slightly higher in premium than more traditional plans, but so what? There are no moving parts like traditional, indemnity plans.
Eliminating the hassle factor, plus gaining the flexibility on the benefit side is worth something.
10 years ago we converted our attached garage into a suite for my MIL. My wife "moved in" with her and gave her 24 hour care for almost a year until she died. The apartment was self sufficient with galley kitchen, a large living area, bedroom, bath and plenty of closet space.
What we spent on the conversion, plus other improvements to the home was roughly equal to 18 months in a nursing home.
It was money well spent.
Not everyone is in a position to provide this kind of support, either financially or emotionally. Even though it was difficult on all of us it worked out in the end.
To me, LTCi is probably the most difficult sale to make. The folks who can afford it and qualify don't think they need it. The ones who need it can't qualify or afford it.
A real catch 22.
