LTC Benefit & Premium

Aug 18, 2018

  1. f55c6
    Offline

    f55c6 Expert

    Posts:
    28
    Likes Received:
    1
    From CalPers site: "With a Comprehensive plan, you may choose from three pre-packaged options or customize your own plan from a wide range of options. These plans have a 90-day elimination period and you do not have to live in California in order to purchase or receive benefits under the Comprehensive Plan."
     
    f55c6, Aug 22, 2018
    #11
  2. f55c6
    Offline

    f55c6 Expert

    Posts:
    28
    Likes Received:
    1
    The prices I received when I input the information (including my age of 56, & a 25% discount since my wife and I are applying together) priced out: $180 per day, 3% annual compounded inflation protection, with survivor benefit (SB) is $251 a month. A policy starting at $200 a day with 3% simple interest and SB has a premium of 278 a month.
     
    f55c6, Aug 22, 2018
    #12
  3. CALTCAgent
    Offline

    CALTCAgent Guru

    Posts:
    2,363
    Likes Received:
    226
    State:
    California
    Do you work with an agent at CALPERS that can compare all the plans and the stability ?
     
  4. ltcadviser
    Offline

    ltcadviser Guru

    Posts:
    1,948
    Likes Received:
    114
    Like I said, if you customize your plan and the only 2 variables are daily benefit and inflation protection then $180 with 3% compound is less premium than $200 with 3% simple.
     
  5. csalter
    Offline

    csalter Super Genius

    Posts:
    181
    Likes Received:
    0
    Being a California state employee, I reviewed CalPers’ plan thoroughly before going with Genworth. Their long term care plans were excellent in value. However, when I was deciding to buy they began reviewing their numbers and change was coming with prices starting to rise. I am glad for now I’m with Genworth. However, I do worry about Genworth’s financial stability.
     
    csalter, Sep 13, 2018
    #15
Loading...