The Federal Long Term Care Insurance Program (FLTCIP)

[Anonymous]

Does anyone do this? My family is familiar with car, home and health insurance, but no one in our family has ever done LTC insurance. I'm 47. I'm worried that I'd pay into the scheme and by the time I'm old enough to need it, the company would be out of business, etc. I already have more assets than (I'm guessing) 90% of Americans my age, so it's not likely that I'll ever actually be destitute. (I have over a million in savings.)

[Anonymous]

http://www.dcurbanmom.com/jforum/posts/list/747324.page

[Anonymous]

Anonymous wrote:http://www.dcurbanmom.com/jforum/posts/list/747324.page

OP here-- thanks! seems like it isn't a good option for me.

[Anonymous]

You can also look over on bogleheads lots of debate (and healthy skepticism) there too.

[Anonymous]

Anonymous wrote:Does anyone do this? My family is familiar with car, home and health insurance, but no one in our family has ever done LTC insurance. I'm 47. I'm worried that I'd pay into the scheme and by the time I'm old enough to need it, the company would be out of business, etc. I already have more assets than (I'm guessing) 90% of Americans my age, so it's not likely that I'll ever actually be destitute. (I have over a million in savings.)

IMO, these companies need to be sued for fraud...