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 Posted: Mon Oct 20, 2008 9:02 am Post subject: LTC at 40! |
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I'm 40+ today...and that's precisely the reason I've started worrying about LTC insurance. Do I truly need it at this age? Also, would love to know if the same LTC benefits are available under Medicaid or Medicare!
Goose_burnett
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Goose_burnett
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| Posted: Mon Oct 20, 2008 10:32 am Post subject: |
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The LTC is an ideal option for people reaching their retirement age since at older age you may require additional care apart from medical care to perform your daily works. The long term care plan pays for such expenses.
However, the LTC plan may not be available before the age of 65 years but its never too early to inquire even.
~Jeremy |
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JeremyHolter
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| Posted: Mon Oct 20, 2008 10:46 am Post subject: |
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According to the studies only a section of the population may need long term care plan during their life time. People with asset of $2 million and more may not need LTC plan for their cares. Hence, assessing your needs is also very important before purchasing the policy.
Normally, the age 60 years is ideal for reviewing your needs regarding long term care and decides accordingly. However, at the age of 40 years you can still purchase a LTC plan since the premium level will be lower but at the same time you'll be required to pay for a longer period of time which will eliminate out the price benefits.
Regards,
Juanita |
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Juanita
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| Posted: Mon Oct 20, 2008 12:29 pm Post subject: |
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Hi..
Medicare would definitely support you with special care under certain circumstances. Medicare is not meant to cover for your general activities. It would only come to help when you're under trudging through special kinda health problems mostly through circumstances wherein you get admitted to a hospital for a short stint.
Regards, Fatman |
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fatman
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| Posted: Mon Oct 20, 2008 12:37 pm Post subject: |
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| Hi there...people with lesser incomes and limited worth of assets would be the ones who'd be mostly benefited with Medicaid. Even when they are eligible to obtain such benefits under specific circumstances, they have little or no choice regarding the availability or nature of such benefits. People who are under this coverage would not have any say regarding the selection of physicians and associated facilities. Roddick |
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roddick
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| Posted: Mon Oct 20, 2008 12:56 pm Post subject: |
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Hey, suppose you obtained $100 worth of benefits for each day that bears a compound inflation cover worth 5%. Now say, all you would do is to feed premiums worth $2000 approx. per an. for a period of 40 years!
Can you guess what would happen if you start acquiring LTC benefits with your policy?? Just imagine how fast your benefits might surpass your expenses!
Crossbreed
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Crossbreed
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| Posted: Mon Oct 20, 2008 1:10 pm Post subject: |
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Hi there..see, it is truly pretty much tough for us to guess who'd require LTC and when! Again, it is as much tough to know who all have the chances of requiring LTC within 45 to 60 years. But I must say, that its better to obtain LTC insurance when you're still young. I say this because if you'd obtain such coverage early in your life, you'd have the chances to pay for lower premiums once you retire from your job.
Thanks, Purpleheaded08
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Purpleheaded08
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| Posted: Mon Oct 20, 2008 3:06 pm Post subject: |
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| Crossbead makes a very good point here. That could be the reason they set a time limit on when you can purchase this type of plan. |
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fireyone
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| Posted: Mon Oct 20, 2008 3:10 pm Post subject: |
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Happy Birthday!
Younger you are, the cheaper it is. I'd get some quotes and see how it fits into your budget. It's unfortunate, but these days, you never know when you might need something.
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LifeIsGood
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| Posted: Mon Oct 20, 2008 3:12 pm Post subject: |
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| Isn't that the truth? How early can you buy this type of protection? |
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fireyone
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| Posted: Fri Oct 31, 2008 3:22 am Post subject: |
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At the risk of sounding dumb here, LOL, can some one explain LTC in more detail please.
Yellow head chick at the wheel 
It would not let me use the BL word, LOL |
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goodnatured
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| Posted: Fri Oct 31, 2008 4:28 am Post subject: |
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LTC or the long term care insurance policies are in great demand now–a-days. It's a suitable option for people who may leave for longer period and may need assistance other than medical at later age.
One may need assistance for performing his/her daily activities as they grew old and the conventional health insurance policies don't cover these expenses. Hence, the concept of the LTC has gained popularity. |
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simon
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