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Re: Long Term Care Insurance

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@RQuickDraw wrote:

I'm not sure I am on the proper forum, but I am looking into LTC insurance for myself and my wife, both in our mid 60's. Has anyone here signed up for this? What policy features are important to have? How much can I expect to pay, etc?

 

Also, I believe AARP used to sponser Genworth policies. Now they go with New York Life. Anyone have experience with either one? Thanks for your help.

 


A recent article on LTC insurance that might be helpful from one of my actuarial magazines:

http://contingencies.org/unlocking-potential-new-combination-long-term-care-insurance-solutions-show...

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Re: Long Term Care Insurance

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@RQuickDraw wrote:

I'm not sure I am on the proper forum, but I am looking into LTC insurance for myself and my wife, both in our mid 60's. Has anyone here signed up for this? What policy features are important to have? How much can I expect to pay, etc?

 

Also, I believe AARP used to sponser Genworth policies. Now they go with New York Life. Anyone have experience with either one? Thanks for your help.

 



The National Association of Insurance Commissioners (NAIC) put out a primer on LTC back in 2013, so some things may be a little outdated, but still seems to be an informative document:

https://www.ncdoi.com/_Publications/Shopper's%20Guide%20to%20Long%20Term%20Care%20Insurance_SLT1.pdf

 

Unfortunately, a lot of the features that you would really want (inflation protection, high maximums, etc) are not usually offered anymore since many companies significantly underpriced these things when they first came out and insurers are not willing to take these risks anymore. If you do find them offered, they will usually so expensive such that the policy becomes unaffordable.

 

There really isn't a lot of price transparency in insurance. The only way to compare is to take the time to meet with different insurers to get a bunch of different quotes. Even then, the premiums may not be directly comparable due to different policy features.

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Re: Long Term Care Insurance

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I can't recommend any specific resources. I have mostly been educating myself with online research, requesting quotes and talking to agents. I believe that you will find that the hybrid policies are pretty expensive, though.
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Re: Long Term Care Insurance

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i'm sorry to see no replies.
i've been wondering the same thing. hoping to find a good educational resource on this subject and not just a sales pitch.
have you found any good resources to educate yourself on the options? i keep hearing about ltc linked with life insurance lately.
not done yet
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Long Term Care Insurance

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I'm not sure I am on the proper forum, but I am looking into LTC insurance for myself and my wife, both in our mid 60's. Has anyone here signed up for this? What policy features are important to have? How much can I expect to pay, etc?

 

Also, I believe AARP used to sponser Genworth policies. Now they go with New York Life. Anyone have experience with either one? Thanks for your help.

 

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