It provides at least 50 months of long-term care benefits.

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PostPosted: Wed Feb 20, 2008 5:24 pm   Post subject:   

A healthy 50-year-old could purchase good coverage for $1,365 a year. For a 73-year-old, the same policy might cost $6,300 a year. This four-year coverage would include a 90-day deductible, $200 per day in coverage (for home health care or nursing home care), and a simple inflation rider -- all on a policy from a top-rated company.

One of the carriers I frequently use for medical coverage, Golden Rule, has an Insurances Asset-Care plan that requires a single premium, one-time deposit of cash into a policy. The company will either guarantee a minimum rate of interest or offer a variable choice of investments inside the life policy. It provides at least 50 months of long-term care benefits. You can buy extended coverage. The downsides of the policy: its expensive, and some people dont have the cash to make the upfront deposit.

Thats very expensive and your average 50 year old could not afford to pay that. $6,300? Wow, just wow. So many senior citizens are struggling, I couldn't imagine them having to cope with that.

Joined: 19 Feb 2008
Posts: 61

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