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Eldercare
Reply to "should we opt for the only long-term care option on offer?"
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[quote=Anonymous]My DH was just dx with Parkinson's disease, although he is fully functional and still working. We are in our mid/late 50s. Trying to figure out if we should pull the trigger on the one and only long-term care insurance option he's been offered--a hybrid life insurance policy with LTC rider. We would pay 100K and he would get a maximum of about 250K in benefits, tax free (so he'd get about $3,200 a month if trigger is pulled this year, up to about $6,000 per month in a decade). Death benefit is not great--it's less than the 100K we pay for the first decade, then rises modestly. Our financial advisor is really meh about this option, but it's our only one (for him). Our net worth is close to $4M and we do have disability and life insurance. And yes, we are consulting with elder law attorneys right now. I'm just looking at this policy specifically and wondering if it's worth it since we have the 100K available. Thoughts from the wise DCUM community?[/quote]
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