Long Term Care Insurance

[qos]

Yesterday I took a major step and signed up for long term care insurance. At 54 I feel young and vital, but the older I get - and the more I have contact with elderly people who need such care - the more I've been realizing that I need to do this. My mom did a lot to take care of my dad before they had to get extra help, and two of their parents were directedly cared for and financially supported for years by them and their siblings. . . but I am unmarried and never want to overburden my only child.

I was stunned to discover that women can be assessed premiums of up to 30% more than men because we are likely to live longer. I got to avoid that because of a special short term deal my employer has set up with a major provider.

It's a sobering step, but I'm glad I've done it.

Comments

[motherlight]

This is such a wise investment. Maybe I will look into this myself. My m-i-l is going to need to be in a long term care facility for the rest of her life due to her disabilities. We had to sell the family home and get her on medicaid. I feel bad that my spouse lost that connection to home and I know she had hoped to live there eventually. It is outrageously expensive to get home health care or care inside a facility.