Pros and Cons of Long-Term-Care Insurance

Reader Comments

Back to article

lthc

janet of IN 6:55PM May 13, 2013

My wife and I have LTC policies with a company that was taken over by Conseco. Our policies state that we are covered for the cost of custodial or domiciliary care. However, the term now used is Assisted Living, which has the same definition as the other two types. When I tried to get the company (now it is Sr Health Insurance of Pennsylvania) to tell me if we are covered for Assisted living, I got a very vague answer of "At the time you need it we will decide". I can't get them to commit to a definitive answer.

Mel Silver of FL 2:28PM April 29, 2013

I have personal experience with LTC polices as a caregiver and certified nursing assistant. You can read more about my experience at www.come2ucaregivers.com. Go to the posts page.

Dale of IL 11:55PM February 22, 2013

Are there any long term care policies that will cover an 85 year old?

bunny morgan of FL 9:34AM February 11, 2013

MedEd Center provides a user friendly platform for medical professionals to obtain certification.Get your ACLS and PALS certifications online today! Ask about our group discounts.

normzed of AL 12:18PM November 23, 2012

After 9 yrs. with John Hancock LTC they raised my premiums 70%, and my husband's 65%. They could do this every yr? Should I stay with them or just freeze the $35,000 we have invested so far, which would last 2 months for each if we went into a nursing home. Or they will keep our rates the same, but cut our benefits in half. We don't know if we can trust them to deliver LTC if we need it. We are on a fixed income. It would be a stretch to raise our yrly rates so much. There is no guarantee they won't raise them again in 12 months. Has anyone had experience with Hancock? Please advise.

mary burk of IL 5:53PM June 19, 2012

If a couple paid into a longterm healthcare plan and cancelled it after 2-3 years, can they get any refunds?

Charles Claxton of CO 8:34AM May 06, 2012

Be careful what you pay for. Mom's policy only covers "Nursing Facilities". Assisted living facilities may provide nursing care, but unless they are licensed by the state as a Nursing Home, forget it. She has paid the premiums a long time and now needs care. The nursing homes here have out-of-reach prices. The policy only pays $2K a month which makes moving her to an actual nursing home impractical. She has paid almost $20K into it and can't use it unless she moves into a more expensive home and the out-of-pocket would then be as high or higher. The next decision is "do we continue to pay the annual premium for it - just in case?????

Jeane Reaves of VA 5:26PM January 21, 2012

The story mentioned here is unfortunate, but definitely not uncommon. It is so important to fully understand the terms of your Long Term Care Insurance policy (or any insurance policy, really). I appreciated the suggestions of how to make your policy more affordable, inflation protection, and the necessity of going with a reputable company. That will become more important especially as Long Term Care Insurance becomes more popular. Thank you for the useful information.

Sarah

http://www.drmarionu.com/dm_ltci/dm_ltci.htm

Sarah of CA 7:54PM May 04, 2011

AIG as with EVERY INSURANCE COMPANY in the United States has to have separate reserves for each of their Business areas. AIG went down the tubes with their Mortgage Finance Business, their LIfe Insurance, Property Casualty, Disability Income Insurance, and any of their other lines of business were separately reserved and are doing fine. I see that they are marketing alot of their insurance as 21st Century to overcome alot of the consumer ignorance of guilt by association.

Glenn Jacob of AK 2:26AM December 12, 2010

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

Back to article

Eat + Run

advertisement

advertisement