Long-Term Care Insurance: Not Always a Good Buy

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Cut government spending, stop raising salaries on elected officials, cut rediculous spending on countries that dislike the United States, get rid of welfare, some Sect. 8 people that make enough money get them off the program and lazy people that can work and do not, terminate them. Make it a 2 year program not a life time hand out. The hard working people that gave into the Social Security System should be helped in their old age. Illegals should be sent back to their own countries we are having hard times without trying to support persons of other countries. Stop funding progams that are not necessary, sell government properties that are not being used. Help our veterans 100% Create jobs and give the people self esteem. Teach our young, they are, are future. Send them to a technical school. Who ever said you have to study unnessary subject teach them something that will help them make a living. And finally God help all of us who need help in our old age we are all headed in the same directions.

Julie Need of TX 9:58PM May 12, 2013

Thanks for the advice from the Texas insurance adjuster license holder. It is really good to have a full understanding of what is contained within any agreement before signing. http://www.insuranceadjustertrainingtexas.com/

Annie Adjuster of CA 2:10PM January 28, 2011

When I got my Texas insurance adjuster license, I learned how unscrupulous salesmen often sign people up for plans they don't need. Be careful what you sign up for, and if you need help reading the contract contact a lawyer.
http://www.usstaffingadj.com

Mendel Potok of TX 10:27AM January 25, 2011

Ah! This is great! Thank you for countering severalsome
confusion I had read about this lately.

Fresno life insurance of AL 4:17PM March 29, 2010

I have an LTC plan, It is called a Partnership with NYS. If anyone is familiar with this program would you please comment? The problem I have with the program is if I want to move elsewhere, I have to run back to NYS. when I think I'm ready to "Kick the Bucket".in order to receive the care. However I had an Aunt who gave much care to others, namely family; She was found dead in her home with no-one having checked on her to see how she was. I said this is not for me. Presently many find themselves in dire straits and aren't able to provide help for others. I figure under these circumstances, we need to protect ourselves!

Mary Ann Cassidy of NY 1:40PM February 03, 2009

Michello, your comments are right on target. Too many are pushed by high pressure salespeople into buying long term care insurance.

Duff Banrick of FL 9:48PM December 05, 2008

All I can say to many of you is talk to several different companies and agents. Get a life insurance policy that covers LTC? Sounds like some agent found a sucker. Listen, insurance is insurance. The whole basis of insurance is everyone pass in a small, somewhat fixed cost, and only a few people benefit. It is the same for auto, home, life, and long term care. So, the simple point is do you want to trade in a relatively small monthly payment and know you have the piece of mind that you will not be wiped out financially, or don't you? Long-term care is just like any other insurance. If you want the piece of mind, get it. And like any other insurance, there are some bad apples out there, but also like most insurance, most companies are reputable, pay claims on time, and try to stay competitive. If an agent is telling you something that sounds too good to be true, it probably is. Do you homework, shop around. And as for Mike F who had a financial advisor tell him to get life insurance that includes LTC, I say find a new advisor. Combining two things into one doesn't save you anything, in fact, it probably costs you more and means you probably don't have good life insurance or good long term care insurance. Risk is risk and the insurance companies have to make enough to cover the risk. I assure you that you are not getting a good deal when you combine two risks into one policy, other than it just sounds good because at least you get something back. How can a company afford to give you something back? By charging everyone more than they need to. It's that simple.

Matt Denson of TX 9:37PM September 06, 2008

I encouraged my mother to purchase LTC insurance about 11 years ago. Although her company has raised rates twice, it is still a great value and my brothers and sisters and I, and my mother, have great piece of mind. The increases were relatively minor. The key is do your homework, choose a financially strong company that, as best as you can tell, is committed to long term care insurance. That is, if the company is mainly life insurance and investmentments and ltc only makes up a tiny bit of their business, stay away. The top dogs currently appear to be Genworth #1, Hancock #2, Met Life #3. If I were buying today, I wouldn't buy from anyone but one of the top three carriers.
LTC will NEVER be part of Medicare or nationalize healthcare. Our taxes would be insanely high.

Mike of TX 9:27PM September 06, 2008

I am deciding whether or not to buy a policy - some companies are offering inflation protection at 5%5% compounded and some according to the consumer price index-these are the 2 protections I am most interested in. The CPI costs less than the 5% compounded. Do you think CPI is good and realistic option? What is the downside to the partnership plans aside from having to return to the state where it was purchased to get the government benefit without spending down assets. How much will they allow you to keep of your own assets? Thank you.

Al Gregory of NY 8:35PM August 11, 2008