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Originally Posted by Schaumburger
I wasn't sure if I should post this in the Non Villages Discussion or the Medical and Health Discussion.
I have been doing a little research on long term care insurance, and I will be going to a presentation in November about it.
Would appreciate any feedback regarding LTC. Worth it or not? I haven't heard what the monthly rate is, I believe it varies on what kind of coverage one chooses to purchase.
I'm a little reluctant to shell out money for insurance I may never use. If I drop dead suddenly at age 78 and never need long term care, what happens to the money I shelled out for 21 years to pay the premiums? I think this money could be put to better use going into my current employer's 401K plan or into the rollover IRA I opened 2 year ago with the money from my former employer's 401K and pension plans.
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Just be aware that any,"presentation," is someone or some company trying to SELL something.
Listen, learn AND SIGN NOTHING. Any presentation where you must act now. Don't walk now-RUN.
I recall reading that the average stay in long term care is SIX MONTHS. What is SIX MONTH insurance worth?
You may want to read the Oct 2017 Consumer Reports article.