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Re: LTCI

Posted by Jim on November 18, 2002 at 11:05:41:

In Reply to: LTCI posted by Mike A on November 17, 2002 at 22:59:16:

: My wife and I are in our mid 50s and are considering buying a LTCI policy to supplement our other incomes in case we ever need LTC. Our financial advisor has come up with a plan from Lincoln Life (Allstate) with a daily benefit of $50, no lifetime maximum, 90 day wait, home care same as nursing home and benefit compounding of 5% every year. We can go a 10 pay also or pay monthly/yearly. Premium for both of us is about $100, or $215 per month for the 10 pay. Does this sound reasonable? Thoughts comments? Thanks.

Mike: Where do you live and why only $50 daily benefit. Are you willing to self insure the costs over $50 per day?

Jim

Follow Ups:

Re: LTCI : : My wife and I are in our mid 50s and are considering buying a LTCI policy to supplement our other incomes in case we ever need LTC. Our financial advisor has come up with a plan from Lincoln Life (Allstate) with a daily benefit of $50, no lifetime maximum, 90 day wait, home care same as nursing home and benefit compounding of 5% every year. We can go a 10 pay also or pay monthly/yearly. Premium for both of us is about $100, or $215 per month for the 10 pay. Does this sound reasonable? Thoughts comments? Thanks. : Mike: Where do you live and why only $50 daily benefit. Are you willing to self insure the costs over $50 per day? : Jim

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