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Long Term Care Insurance

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  • Long Term Care Insurance

    Any of you have LTC insurance? I'm contemplating purchasing this because I looked into Medicare and Medicaid and found out they only cover life saving events and you must basically exhaust all your assets before you're able to get coverage for assisted living if you need that, that scares the heck out of me. They have some really great LTC policies out there in all kinds of combinations, most of them you can get most of your money back (Cash surrender amount) if you cancel the policy for whatever reason.
    Ron

  • #2
    I started looking for Pam, but so far just looked at a couple websites, I’ve been planning on doing some more research. What have you found?
    '70 Mach 1 - '72 Sprint - '94 F-150 XL -'97 E-150 - '18 Edge SEL AWD

    My Mach's restoration progress
    My Sprint's restoration progress
    ”Mercy for the guilty is cruelty to the innocent.” ~ Adam Smith

    Comment


    • #3
      Interesting subject. I'd like to know more myself.
      ----1999 F150 XLT Lariat Super Cab 4X4 5.4----
      -----1947 Lincoln Zephyr Coupe 5.0-----
      -----2005 Expedition Eddie Bauer 5.4----
      " Sometimes you fix the car, sometimes the car fixes you" Steve L.

      "Do not let anyone tell you it cannot be done. No challenge can match the heart and fight and spirit of America". President Donald J. Trump

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      • #4
        Sad subject.
        79 Stang, full cage,mini-tubbed,396"W,G-Force G-101 4 spd,4.71’s, tagged street/strip 10.215@131.3
        69 Stang Vert
        69 Stang Coupe
        92 Stang 5.0 LX
        other DD's

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        • #5
          It ain't cheap! Though if you can get a policy that gives a bunch back if not used, that's a little better.
          Just Sayin'
          Gene
          To quote my big brother: "Gettin' Old Ain't For Sissies"
          '68 coupe/5.0/T5
          '69 F250
          '56 Chebbie 3200 P/U
          '03 Miata (wife's ride)

          Comment


          • #6
            Originally posted by SteveLaRiviere View Post
            I started looking for Pam, but so far just looked at a couple websites, I’ve been planning on doing some more research. What have you found?
            Steve, I attended a seminar hosted by this company, very informative and it appears it's all they do. There are examples on their website of different policies they've sold to people. The trick is with LTC you have to be in pretty decent health, or better said no major issues to start with. Critical care policies are easier to obtain but don't go nearly as far.
            https://www.525longtermcare.com/
            Ron

            Comment


            • #7
              These days they’re one of those things you need, like ESP programs. Everything is so expensive these days. When Pam’s aunt came down with Alzheimer’s a few years ago a home she had to stay at cost $5000/mo and that wasn’t a palace by any means. By the time she died every asset she had was gone and if she hadn’t died when she did she probably would have to go to a much worse state sponsored place. These places have a long waiting list too, so I don’t know how that would have worked out.
              '70 Mach 1 - '72 Sprint - '94 F-150 XL -'97 E-150 - '18 Edge SEL AWD

              My Mach's restoration progress
              My Sprint's restoration progress
              ”Mercy for the guilty is cruelty to the innocent.” ~ Adam Smith

              Comment


              • #8
                Back in 2001 when my dad was in Bryn Mawr Re-Hab, not permanently, but there were permanent patients there, I happened to be at the nurses station, and heard them talking to a patients relative about 'long term care insurance.

                I said, "I have long term care insurance."

                They all turned to me and said, "You do ? With who ? How much, if I may ask. "

                I turned to all of them and said, "I have Doctor Kervorkian's 800 number in my wallet !"

                Some laughed. Some look stunned.

                I WILL NOT BE A BURDEN TO ANYONE !!!!

                If worse comes to worse, I will check in to my local V.A..... FAR from the best hospice or long term care, but my local V.A. at Coatesville PA treats me great, and better than I deserve.

                If I am incapacitated by a stroke, as long as my right or left hand work, I'll do the honorable thing, and as we say in the PPD .... "Swallow my gun !"
                Eddie "D"
                '70 Sports Roof, 351 W, 13.1 @ 107: Maple Grove.
                "The deadliest weapon in the world is a U.S. Marine and his rifle." Quote by General John J. Pershing U.S. Army.
                M&M Member #339.

                Comment


                • #9
                  Originally posted by 70 Pony View Post
                  Back in 2001 when my dad was in Bryn Mawr Re-Hab, not permanently, but there were permanent patients there, I happened to be at the nurses station, and heard them talking to a patients relative about 'long term care insurance.

                  I said, "I have long term care insurance."

                  They all turned to me and said, "You do ? With who ? How much, if I may ask. "

                  I turned to all of them and said, "I have Doctor Kervorkian's 800 number in my wallet !"

                  Some laughed. Some look stunned.

                  I WILL NOT BE A BURDEN TO ANYONE !!!!

                  If worse comes to worse, I will check in to my local V.A..... FAR from the best hospice or long term care, but my local V.A. at Coatesville PA treats me great, and better than I deserve.

                  If I am incapacitated by a stroke, as long as my right or left hand work, I'll do the honorable thing, and as we say in the PPD .... "Swallow my gun !"
                  Ah, but Eddie, you’re tethered to the earth for the same reason I am, aren’t you? You know how much pain and guilt that would cause for your daughter and grandkids, in addition to your other relatives and friends. Everyone would feel like they let you down and would carry that for the rest of their lives. That’s a lot of pain to hand out. We just suck it up and put one foot in front of the other.
                  '70 Mach 1 - '72 Sprint - '94 F-150 XL -'97 E-150 - '18 Edge SEL AWD

                  My Mach's restoration progress
                  My Sprint's restoration progress
                  ”Mercy for the guilty is cruelty to the innocent.” ~ Adam Smith

                  Comment


                  • #10
                    Originally posted by SteveLaRiviere View Post

                    Ah, but Eddie, you’re tethered to the earth for the same reason I am, aren’t you? You know how much pain and guilt that would cause for your daughter and grandkids, in addition to your other relatives and friends. Everyone would feel like they let you down and would carry that for the rest of their lives. That’s a lot of pain to hand out. We just suck it up and put one foot in front of the other.
                    You're right Steve (AS USUAL). I've stated here that I've investigated many, many suicides and saw the carnage left behind for friends and family. It's just my "macho B.S." talking. Sorry !
                    I guess I'd stick it out ............ I do have a living will that states "DO NOT RESUSCITATE" ... Just pull the plug and give me pain meds.

                    I'd suggest everyone to have a 'Living Will' and 'Power of Attorney' in case one does get incapacitated, so your wishes will be LAW !
                    Eddie "D"
                    '70 Sports Roof, 351 W, 13.1 @ 107: Maple Grove.
                    "The deadliest weapon in the world is a U.S. Marine and his rifle." Quote by General John J. Pershing U.S. Army.
                    M&M Member #339.

                    Comment


                    • #11
                      Originally posted by 70 Pony View Post
                      If I am incapacitated by a stroke, as long as my right or left hand work, I'll do the honorable thing, and as we say in the PPD .... "Swallow my gun !"
                      What if you get alzheimer's and forget where you put the bullets? you'll be pulling the trigger for weeks.
                      Ron

                      Comment


                      • #12
                        Originally posted by Ci8UUP View Post

                        What if you get alzheimer's and forget where you put the bullets? you'll be pulling the trigger for weeks.
                        ...or trying to shoot yourself with a banana.
                        '70 Mach 1 - '72 Sprint - '94 F-150 XL -'97 E-150 - '18 Edge SEL AWD

                        My Mach's restoration progress
                        My Sprint's restoration progress
                        ”Mercy for the guilty is cruelty to the innocent.” ~ Adam Smith

                        Comment


                        • #13
                          Originally posted by SteveLaRiviere View Post

                          ...or trying to shoot yourself with a banana.
                          LOL, that's some funny shlt!

                          Well if it's the banana and Alzheimer's I hope he remembers where his head is versus other parts of his body... "goodbye cruel world... oh that didn't feel like relief"
                          Ron

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