Re: After all we've been through, how many consider LTC Insurance?
I absolutely considered it after all my Mom went through. I found that I cannot afford it. My income is way too low. It costs as much as my rent, leaving me nothing to eat.
My brother and sister in law are in better financial shape. They also considered it. Get this - he was not accepted because he is too healthy. Gasp! He never goes to the doctor. Medical exams were required and he passed them all with flying colors, but he was rejected.
They would have accepted my sister in law - who has long term chronic leukemia- but they decided to use their money some other way to insure they have enough for health care later. They put their house into a trust for their son.
It seems to me that if they insure a leukemia patient, expected to die young, but not a super healthy person where they might actually have to pay out, long term care insurance is a farce. The reason for our troubles might be that Mom lived so long - to 99 - and this scares off the insurers. They would much rather get your money and not have to pay out for any length of time!
My long term plan is to scrape by on my low income, using up any and all savings (this is easy with gas prices and failing investments) and then go on Medicaid if it still exists. Maybe I'll be lucky and die younger than my Mom ... my money might last until age 86.
Pessimistic thoughts. However, I love my life and enjoy it tremendously day to day, and trust that God continue to be with me in the future.....
Last edited by Martha H; 09-18-2008 at 04:03 AM.