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[quote=Anonymous]My parents got LT care insurance via John Hancock when they were 60 and 63, around 1997.  My dad was diagnosed with a form of dementia in 2004.  He had a series of medical complications mostly unrelated to his dementia and now has lived in a nursing home for over one year.  My mom remains at home.

Financially, getting this insurance was the best decision they've ever made...insurance covers the majority of my dad's expenses associated with his care.  My mom has not had to dip into her savings and can afford to keep their house.

Catch is the LT policy only covers three years of assisted living/skilled nursing and then it simply ends.  Statistically, I don't think my dad can live that long (and clearly the policy is written this way) and my mom has expressed fears that he could outlive his policy.

I know that LT care insurance has significantly changed - even residents where my dad lives now who got LT policies a few years after my parents complain that coverage has been significantly been decreased and is less comprehensive.[/quote]

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