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Gold Conversationalist

Longterm Care Insurance

Message 21 of 21

Good evening AARP Community!  I recently posted about the state of my happiness about my recent retirement (last March).


Longterm care insurance was mentioned as being a vital part of a retirement portfolio, especially for us Single Independents (one income source) Boomers.


I agree, and, yes. I do have a longterm care plan in my retirement portfolio.  However, the needs nuances, concept, and reality, of longterm care has changed/evolved and, thankfully, continues to change to address the ever changing needs of its consumers--us Boomers.


Long-term care is no longer just about paying an insurance policy and hoping the company won't go belly up before you need to cash it in.  Or, the policy becomes so expensive that after years of paying on the policy, you lose the policy because you can no longer afford to continue paying it.


Senior communities are increasingly including residential options that include a living option that span the life stages (long-term care) of their aging residents.  Other alternative living options beyond the current nursing home or care facility include community and senior home care coops.  Pricing is becoming more affordable because of competition (its the least reported building boom in housing).


My mentors that I mentioned in my original post didn't have these options.  They had each other, and they were exceptionally resourceful considering it was the early 80s. Awesome men and women!  


They are always on my gratitude radar as I settle into my retirement life.


Fey Lady
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