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Reply to "Feds, did you buy long term care?"
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[quote=Anonymous]My mom bought LTC insurance when she was 50 and became seriously disabled from a stroke 2 years later. It has been an absolute godsend for us. The things she looked for when she was shopping that have been so helpful: --The plan has a total dollar cap, instead of a time limit on coverage --The extinction period (amount of time you pay out of pocket before they start paying) is short...90 days. Because she bought it so shortly before she became disabled and because you don't pay premiums when you are getting benefits, her plan is a massive loss for the company. On the other hand, my grandfather had one for which he paid premiums for a long time, but died only a few days after his extinction period ended. They made plenty on him.[/quote]
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