- 1,926
I take a different view on home care. From personal experience I have seen that home care can exceed nursing home expenses. 80% of ltc claims are home care, I would want all the home care I can get, IMO.
What would you recommend?
- Thread starter Superchief
- Start date
- 931
Yes. My bad...I wrote that at midnight last night, wasn't really thinking clearly.
- 558
I take quite a different approach with men and women. Studies have shown that the average stay in a nursing home is 3 years, right? Has anyone been in one? The majority of folks that are there are WOMEN!
The reason- men don't want to be there. If they can, they will themselves to die or seek out home care. I usually sell 3 or 5 year policies to men. Women, on the otherhand, can spend many years in a facility. They are surrounded by other women that they can befriend, they don't have to worry about anything, they end up thriving as well as their health allows. There are some women that spend upwards of 10 years in facility care. I always put women in a lifetime benefit plan.
Also, look at the family's longevity. Did parents and sibling's live long lives relatively healthy? Chances are, they will too.
LTC is actually a very complicated product. There are a lot of moving parts. You want to make sure they have the right coverage, not under or over insuring. I don't want to get a phone call from a ticked off relative because the benefits ran out! Provide them what they need.
The reason- men don't want to be there. If they can, they will themselves to die or seek out home care. I usually sell 3 or 5 year policies to men. Women, on the otherhand, can spend many years in a facility. They are surrounded by other women that they can befriend, they don't have to worry about anything, they end up thriving as well as their health allows. There are some women that spend upwards of 10 years in facility care. I always put women in a lifetime benefit plan.
Also, look at the family's longevity. Did parents and sibling's live long lives relatively healthy? Chances are, they will too.
LTC is actually a very complicated product. There are a lot of moving parts. You want to make sure they have the right coverage, not under or over insuring. I don't want to get a phone call from a ticked off relative because the benefits ran out! Provide them what they need.
I think that's why Rick suggested working with a LTC specialist and splitting the case. There's just so much to do what with watching the stock market tanking, oil prices going down 33% and gasoline what 10cents? We're all just too freaking busy
PS my next door neighbor did a bit along the inventive side - they've been renting out mom's 4 br house at $10,000 /month, since they had to put mom in a facility. Not a bad way to finance the monthly fee. You can tell by the price how low the US dollar has fallen!
PS my next door neighbor did a bit along the inventive side - they've been renting out mom's 4 br house at $10,000 /month, since they had to put mom in a facility. Not a bad way to finance the monthly fee. You can tell by the price how low the US dollar has fallen!
