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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (7035)	1/2/2011 1:18:54 PM
From: MoneyPenny	Read Replies (2) \| Respond to of 34328

Met Life is dropping LTC policies. They will cover existing policies. I expect others to follow. The expense of caring for baby boomers is not going to work out for them. I seem to remember a quote: "If you need it, you can't afford it. If you can afford it, you probably don't need it." MP

To: Bread Upon The Water who wrote (7035)	1/2/2011 1:20:59 PM
From: Bread Upon The Water	Respond to of 34328

Additionally, one needs to consider the stress placed on the designated caregiver(s) if one is not going to have paid assistance. My step mother was all about finished (healthwise) after nursing my father for 3 years even with my sister's part time help. My step mother tried to put my Dad in into LTC daycare, but that didn't work out. My father-in--law lived with my sister- in-law for 6 years, but the final two years she had paid help at $29 an hour. LTC policies will now pay for home care instead of nursing home care and gladly do so as it is cheaper. Also, more and more people are moving to Continuing Care (CC)facilities for their final years. This offers them the chance for independent living in their own place while younger and then graduating (at a higher price) to assisted living and then continual care (at another higher price)as they need it. The LTC policy would help pay for the assisted living and continual care phases. Everyone's situation is different, but, as you can tell, I believe it's advantageous for everyone to consider all aspects of the LTC purchase issue thoroughly.