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Post by Barry on Dec 12, 2007 17:46:44 GMT -5
Have any of you look into Long Term Care Insurance? If so what are your opinions on cost or option to take or general info. My wife thinks we should buy a policy for peace of mind. I sort of agree
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Post by Deleted on Dec 12, 2007 17:49:57 GMT -5
I say go for it if you can swing the premiums. I've seen two elderly family members confined to nursing homes in the last 2 years and they had to give up all their assets inclding SS give or take a few dollars!
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Post by LARRY on Dec 12, 2007 17:58:38 GMT -5
HEY BARRY......THAT'S BEEN ON MY MIND FOR AWILE. AFTER THE NEW YEAR, I'M GOING TO CALL MY "MET" AGENT IN NEW YORK. TO SEE WHAT "MET" HAS TO OFFER. I'M ALSO GOING TO GET IN TOUCH WITH "AARP"
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Post by CQuinn on Dec 12, 2007 19:15:54 GMT -5
Barry,
The Federal Long-Term Care Insurance Program offers long-term care insurance at a group rate for Federal and U.S. Postal Service employees and annuitants, members and retired members of the Uniformed Services.
This is probably your most cost effective way for you to go.
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Post by Barry on Dec 12, 2007 20:06:16 GMT -5
Charlie does the 2 years I spent in the army qualify me?
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Post by CQuinn on Dec 12, 2007 20:46:08 GMT -5
Barry,
Sorry I confused you with someone else thought you retired from the Postal Service instead of the telephone Co.
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Post by Fran Gyomory on Dec 12, 2007 21:40:49 GMT -5
Long Term Care is an excellent option and one you must exercise BEFORE you have any serious illness. Joe was a Fed employee and I was qualified to purchase the same coverage through the Department of Defense but we opted not to buy it. Now I am kicking myself in the buns because it is now not affordable for us. It is good to look into it. We are hoping that we will remain and then simply drop dead at 100 of old age!!! LOL !!! But seriously, do look into it. The Fed plan is only for DoD employees and spouses; retired military; reserves; the Guard and retired military and spouses. I am guessing that widows of military are also eligible since they are usually included in this type of benefit unless they have remarried.
Good luck and shop around. Don't pick up the first one you see. Also, check to see if AARP has a plan and how about the company you worked for until retirement? I believe they have pretty good benefits and LTC might be one of them.
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Post by Deleted on Dec 13, 2007 1:44:28 GMT -5
good luck trying to get it if you have any preexisting conditions--- we tried years ago and were turned down
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Post by Barry on Dec 13, 2007 13:13:58 GMT -5
Thanks for your input
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Post by carjoh5 on Dec 13, 2007 13:47:51 GMT -5
Barry, I am not sure, but I think my daughter Lori might be able to help you on this "Q". I will tell her to check in on here to see what she might know to help. This is what she does everyday so maybe she could help.
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Post by Barry on Dec 13, 2007 14:05:17 GMT -5
Thanks Carol
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Post by CQuinn on Dec 13, 2007 14:09:32 GMT -5
This past weekend USA Weekend magazine that comes with the newspaper had an article on LTC policies. The average cost is $1.972 a year for premiums and this can increase depending on the Company's experience with claims. Cost is also effected by your age at the time you sign up for the insurance. Assisted living costs are 30 thousand a year and nursing homes average 70 thousand. And they'll take all your money before state and federal aid kick in.
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