North Mississippi Delta / Alabama Gulf Coast | blane - 11/16/2017 20:53
You may find that long term is either unavailable, or ridiculously expensive. That's what I found out recently. What I did buy for myself is called short term care, which covers only one year of care. Statistics show most men only survive a year or less after going to "a facility". I think about our local nursing home, it has mostly female patients. The men there don't usually last long. (Maybe because they don't want to?)
My Mom paid for a LTC policy for 20 years. Once she became unable to cook, drive, etc., we had 'sitters' to help with things that due to Rheumatoid Arthritis, she could not.
I made 3 claims to get financial help to offset the expensive in-home care. Every time it was denied.
After I calmly talked to a cust. service rep privately, was told that the policy only covered IF she was incapacitated (bed ridden) and only paid the $175/day benefit after we paid for care NOT included in a Nursing Home care. It would not pay for a sitter to attend to her needs in home or at a facility that provided care!!???
Basically, we never collected a penny for anything even though all invoices were submitted properly.
Put the money in a Investment account for your long term care so it can be used to care for needs rather than make a Insurance Co lots of profits.
NOTE- Her policy was $1K/year. Do the math. |
Looking for long term care insurance
