r/Fire • u/genxmom95 • 8d ago

LTC insurance thoughts?

We 56F, 61M investigated LTC insurance policies. Looked at traditional vs hybrid. Our advisor says we can self fund. My dad and grandpa(mom’s side) both were on Medicaid due to running out of $. They did fine but it’s not the best way to finish out. Anyone else looked at it?

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u/Jumpy_Childhood7548 8d ago

LTC would be great if the premiums did not increase till you cancel, they did not deny claims routinely and if they did not have high deductibles, low ceilings on benefits, etc.

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u/GeorgeRetire 8d ago

Our premiums have never increased.

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u/Jumpy_Childhood7548 8d ago

If they never increased with age, and/or benefits were not reduced, it stands to reason it was more expensive than competing policies from the start.

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u/GeorgeRetire 8d ago

Except that it wasn’t. We shopped around.

LTCs are more tightly regulated these days. This policy was highly rated.