Wellness

[susan_ca]

On 4/22/2014 CalmInTheHeart said:

On 4/22/2014 Daysdee said:

On 2/19/2014 happy housewife said:

On 2/18/2014 Barbiedr said:

Susie ORMAN said it was a great thing IF you are sure you can continue to afford to pay the premiums well into retirement. To start it and then drop it because it got too expensive, would be a total waste.

The thing is - if you start it while you are younger it isn't that much per month. It only gets pricey when you wait to get it til your older.

Getting a policy is your 30's is too young. I think it is recommended you get it before 60 which means in your 50's to get a good rate. It is true if you won't be able to keep paying after retirement or say when you are 75, it doesn't pay to even get it because when you need benefits you won't have the policy.

I purchased mine at age 30 and I'll be 60 in a month. I'm glad I bought it. I can rest easy knowing that I have coverage for nursing home, skilled care, independent living, and assisted living if/when that time comes.

It's not just for the aged. My sister had a stroke at age 53 and used hers for a couple of years until she got better.

I completely agree with this. We like to think with all the modern medical and technologies we can somewhat foresee and cure what ails us. Fact is, we don't. We can have a heart attack or stroke in our 20s or 30s.

I just purchased LTC insurance early part of last month. I can pay the monthly premiums till the day I die, should I choose to do so, but that is the most expensive way to go about it. Additionally, making monthly payments put you at risk of premiums being jacked up. I chose to make 3 payments, in 3 years. The policy goes into effect as soon as I made my first premium payment. After the 5th year, I can request to get every penny back of what I paid in premiums, should I change my mind about staying with this insurance company or that I am so cash-strapped.

Speaking for myself, I don't think I am too young to get LTC insurance. Just like there is no such thing as too early to save for retirement, I don't think there is such a thing as you are too young to get LTC insurance if you can afford to do so. I live a fairly active life. I go on hikes every weekend, most hikes I go to are fairly dangerous; I can fall and break my bones on any of those hikes. Even if I don't go on dangerous hikes, I can get me into physical and/or mental incapacity should I get into a serious car accident. I can go on and on, but you get the point.