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Eldercare
Reply to "Decided to purchase Long Term Care insurance"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My mom bought LTC insurance. I am sure she didn't think she'd need it, and definitely didn't want to be in assisted living. But then she had a stroke and was unable to work or live at home. She has been in LTC since 2010. THANK GOD she had those policies which have paid for themselves MANY times over. Her facility is now $7k a month, compared to $3k when she moved in. I am sure the policy has paid $750k over the course of twelve years. If she hadn't had the insurance, things would have been pretty dire. I think these policies are issued with the idea that people won't live very long in such facilities, but sometimes (like my mom) people live much longer than expected. [/quote] Medicaid would have covered her when things got dire.[/quote] Yes but then she'd have to be in a horrible facility that was probably very far away.[/quote]
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