First time looking into LTC options

Looking at all the options, feel quite overwhelmed with the complexities of this LTC insurance stuff.


In my mind, I see traditional, Hybrid and self insured options.


Traditional LTC - quite expensive premium. premium may continue to go up every other year. Reading some other forums about traditional LTC, don't get a comfy feeling if the benefits come easily or not. Stringent requirements before you qualify for benefits etc. if you dont use it, dont get anything back.


Hybrid -  Big upfront investment, locked in premuim, if you dont use it, my heirs will get some death benefit; works like life insurance. 


Self insured - a friend of mine just educated me on this briefly. would like to research more on this option.

how much to set aside for LTC amount? do I need a trust fund? How to estimate the amount of money? what are the most pitfalls? 

Any web page for this information? any guidelines/directions would be helpful.





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Bronze Conversationalist

@SumitraS48540 LTC insurance is a complex product very few understand. In addition to the options you mentioned there are also state partnership programs.


This site has a LOT of information and will address many of your questions.


You can literally waste months or even years learning about LTC on your own.


Another consideration is underwriting. The qualification process for LTC insurance can be lengthy, including a 20 minute (or longer) phone interview. Before you spend too much time researching you might want to talk with a KNOWLEDGEABLE agent who can give you an idea if you might qualify.


Agents that SPECIALIZE in LTC insurance are generally quite knowledgeable and take the time to explain options, costs, etc.


This is not your typical transactional one meeting process. Often family members, lawyers and accountants are involved.


Good luck!

Bark less. Wag more.
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Social Butterfly

What I'm going to say is contraversial. I expect disagreement. But, I must say this. "Long Term Care" is a relative term (what exactly is long or short?). I have the belief that everyone must carry a minimal amount of his/her own "weight" (regardless of working/retirement status). Even if you are on "life support", that life-support system can fail, and you'll die anyway.

Even machines "get tired" of "taking care" of you (they too, will eventually fail without maintainance). You can't live without a minimal amout of participation in your own life. Just like the Constitution Of The USA gaurantees a minimal amount of personal rights, Life itself demands a minimal amount of your own participation. Otherwise, you might as well be dead.

You can't abdicate ALL of your resposibilities onto someone else, regardless of how responsible/competent/reliable/loving they are. And, if your not up to the task, then you might as well be dead.

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