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Re: Shared Benefits

Posted by Steve Eads, CLU on October 19, 2001 at 17:52:22:

In Reply to: Shared Benefits posted by Tony Randle on October 16, 2001 at 23:37:05:

: I am researching LTCI prior to sitting down with a professional in the field. I am 77 and my wife is 71. We intend to purchase LTCI (if it turns out that we are insurable!).

: I am leaning towards one of the following companies:
: AIG; Allianz; CNA; GE Capital; John Hancock; Transamerica.

: I am inclined to think a shared benefit policy such as GE's "Shared Benefit Plan" might turn out to suit us best.

: Can anyone tell me which of the other companies I have listed offer such plans? Please feel free to volunteer any other information you may consider helpful.

: And thank you to the professionals who present so much excellent advice here. I have read most of the questions and answers and it has helped me a great deal in coping with this complex subject.
:

Tony, there are a host of considerations that go into determining if a shared plan is best for you...your's and spouses health, family medical history, your personal financial condition...just to mention a few. Think of LTC insurance as a financial aid tool first and foremost. Don't take more than you need but be especially mindfull that you don't take too little just to save a few bucks that you might easily be able to part with. If you're lean on liquidity and cash flow, you may be forced to take a shared benefit plan due to cost considerations. I strongly recommend that you not "gamble" too much with your financial future by being a less than prudent mizer.

Lots we don't know about TONY at this point. The more you can inform your advisor, the better he/she can assist you and make credible recommendations.

Congrats for considering LTCi. Best wishes,

Steve Eads, CLU

Follow Ups:

Re: Shared Benefits : : I am researching LTCI prior to sitting down with a professional in the field. I am 77 and my wife is 71. We intend to purchase LTCI (if it turns out that we are insurable!). : : I am leaning towards one of the following companies: : : AIG; Allianz; CNA; GE Capital; John Hancock; Transamerica. : : I am inclined to think a shared benefit policy such as GE's "Shared Benefit Plan" might turn out to suit us best. : : Can anyone tell me which of the other companies I have listed offer such plans? Please feel free to volunteer any other information you may consider helpful. : : And thank you to the professionals who present so much excellent advice here. I have read most of the questions and answers and it has helped me a great deal in coping with this complex subject. : : : Tony, there are a host of considerations that go into determining if a shared plan is best for you...your's and spouses health, family medical history, your personal financial condition...just to mention a few. Think of LTC insurance as a financial aid tool first and foremost. Don't take more than you need but be especially mindfull that you don't take too little just to save a few bucks that you might easily be able to part with. If you're lean on liquidity and cash flow, you may be forced to take a shared benefit plan due to cost considerations. I strongly recommend that you not "gamble" too much with your financial future by being a less than prudent mizer. : Lots we don't know about TONY at this point. The more you can inform your advisor, the better he/she can assist you and make credible recommendations. : Congrats for considering LTCi. Best wishes, : Steve Eads, CLU

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