Elderly Parents - Long Term Care Insurance

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trevor_macfee · #1 Post by **trevor_macfee** » Sat Apr 05, 2008 8:03 am

I was going to post this in Sir G's thread, but this is probably too late to help his situation (sorry).

But for others with getting-up-there-in-age parents, one of the best decisions my mom made (and I would argue one of the most LOVING decisions she made) was to purchase long term care insurance. It was expensive, but last year when her Alzheimer's got to the point where she needed more care than she could get living at home, she was able to get into, and afford, a much nicer facility than she could have without the extra insurance. And, it made an extremely difficult time a little easier for my sister and I.

Mom is in a place where we know she'll be cared for, and it's 10 minutes away from my sister's house in Florida. I'll be flying down for mom's 70th BD (she had pretty early onset Alzheimer's) later this month. Thankfully, although she's not always sure where she is or what day it is, she still knows who her kids and grandkids are.

So . . . you may want to talk with your parents about Long Term Care Insurance, and you may want to take a look at it when you reach "a certain age" as well (I know I will!).

dodgersteve182 · #2 Post by **dodgersteve182** » Sat Apr 05, 2008 11:09 am

It is less expensive if you buy it at a Younger Age. Mrs. Dodgersteve and I are going to buy it this year. She is not even in her fifty's yet, usually there are discounts for Joint Policies as well.
In the interests of Full Disclosure, Calif. Dept. of Insurance has some issues still with these types of policies. Read your own state's letters and memos in addition to the insurance brochures before you decide to pursue or not pursue this type of Policy.