Anyone have any recommendation's. Pros and cons. Assisted living or long term nursing care is so expensive got me thinking about this.
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Long term care insurance.
- Thread starter Silvrfox
- Start date
Bringing my father-in-law home tomorrow on hospice care
Yeah, of course we’re human beings and we all have feelings, but what’s the sadness on my wife’s face and feel how she’s feeling it’s terrible
Bless you guys
A chronic illness rider attached to a life insurance policy is a very good option. I do this for a living. Send me a message and we can talk.
This is a great deal for some folks, terrible for others, that is how insurance works. Unfortunately you don’t know which group you are in until it is too late. We don’t have it and at 70 is expensive to buy. All 4 of my wife and my parents required some degree of institutional care in their last years. Thankfully they were good savers and had paid for houses. Their care in the last few years of life took all they had accumulated through their working years. If you don’t buy a policy I would recommend setting aside some every month for what in my experience is almost certainly to come. Staying as fit and healthy as possible will make everything easier in the last years. In all the facilities they were in the obese were inordinately represented. When your muscle mass shrinks dealing with that extra 100 pounds becomes much more difficult,
Long term health insurance is a great tool to protect your family assets. A lot of insurance companies no longer offer Long Term. The length of term will also play into the premium cost. Plan on 5K for you and another 5K for your spouse annually. They do offer a cash surrender amount if you don't use it (or drop dead).
Prayers for you all .
OP, good subject. My In Laws really racked up. They went into assisted living and were paying all the bills and saving money on top of that. His employer, I believe it was, introduced a plan. They jumped on board. It really paid off for them. If you don't or don't think you'd ever have the funds to pay for the care, it could be a good idea to look into it. Just make sure to not over pay
