Wellness

[Tinkrbl44]

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@SharkE wrote:

Elimanation period of 90 days then they pick up from then on is what my John Hancock says.

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@SharkE 

I sold LTC insurance years ago, and have this observation:

Some insurance companies got a lot of negative feedback over Elimination periods.  For some, the 90 days never kicked in and paid anything.  If a person was in care for only 60 days, they'd have been 30 days short of getting any benefits. 

Of course, if you can personally cover the first 90 days, there is no issue to consider.

[qualitygal]

If you do check those out, take your daughters with you, so they'll learn what you like.  Don't do all that work without someone there to see what you like or don't.  

[SharkE]

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@Tinkrbl44 wrote:

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@SharkE wrote:

Elimanation period of 90 days then they pick up from then on is what my John Hancock says.

---

@SharkE 

I sold LTC insurance years ago, and have this observation:

Some insurance companies got a lot of negative feedback over Elimination periods.  For some, the 90 days never kicked in and paid anything.  If a person was in care for only 60 days, they'd have been 30 days short of getting any benefits. 

Of course, if you can personally cover the first 90 days, there is no issue to consider.

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I'm gonna try and have assisted home care come in when I get to that point and before I would need to go

to a nursing home

John Hancock pays 202 a day for that. Private room at a nursing home down here in Amarillo is 6500 a month.

@Tinkrbl44 

[Trailrun23]

Great advice. It's best to ask as many specific questions as possible and find or get the answers in writing.

[Trailrun23]

We just got a notice from our LTC company that they are requesting an adjustment to premiums due to inflation. They want a 38% increase. I am horrified because it is very expensive already. 
The key to LTC insurance is buying it as early as possible. The premiums will be less and you will have more choices. We had a friend who finally tried to get LTC insurance when he was 75 and he was turned down due to his age.