- quote -

The above snippet is the crux of the situation. There is only
(1) ONE real purpose for ANY form of insurance, that being
to produce DOLLARS at a given time of NEED.

Yes kiddies, Life Ins, Health Ins., LTCI as well as casualty
insurance is all about DOLLARS. Unfortunately many people
are under the mistaken idea that those Insurance companies
are out there to "take care of you". Not at all. They simply take
care of your money, and provide the contracted amount when needed.

As to LTC itself, IF one qualifies for MEDICAID, (and
each State has different qualifications) then your LTC needs will be
borne (not provided) by the State. Very little choice, not the best of
service, nor the REAL first choice of most folks.
If you do NOT qualify for MEDICAID, then MEDICARE will cover
the first 20 days (at 100%), and the next 80 days at a fraction (don't
have the exact minuscule amount at hand) of the room cost. NOTHING
after 100 days..............................

The best choice of all, is IF POSSIBLE to purchase your own LTC
coverage, so that YOU will have choices of either Home Care,
Assisted Living Care or Nursing Home care, as YOU need them.
If purchased at an early age (prior to retirement), the cost can be
affordable (and if purchased RIGHT) never be increased.

I recommend a "Comprehensive Plan", that covers all three of the
above, for a minimum of three years, preferably five years, and if
affordable Lifetime.

If you have any questions, feel free to ask.....
Cal Lester CLU




Backup not found: (A)bort (R)etry (P)anic

"Elizabeth Richardson" <erichktn[at]worldnet.att.net> wrote in message news:<zc6wb.102347$Ec1.4670550[at]bgtnsc05-news.ops.worldnet.att.net> ...
- quote -


I've been lurking in this group for some time and generally do not
post, so forgive me for the intrusion.

There are many resources available covering LTC - Phyliss Shelton has
a web site that's reasonably informative, as is Marilee Driscoll's
"Complete Idiots Guide", plus I found three other texts in a
netlibrary that were also very good (one penned by a CPA and one in
which the author takes LTC to task). All were to some extent or
mostly designed for the consumer. So I think the public's education
of LTC is well underway. But, I still believe the subject is
complicated enough and emotional enough that brining in an agent is
the best method for evaluting LTCI. As fas as I know, it's the only
way in which a consumer can buy a policy. The only policies I'm
familiar with require an agents face-to-face interview.

While there have been very many good points brought out in the
previous discussions, there is the "fact" that there will be over 70
million "baby boomers" becoming "senior boomers" in the not too
distant future. If you stop and think about that, the idea that
Medicaid will be able to handle the "volume" would seem to be
laughable. I personally do not think the current system will stand up
to a fraction of the potential 70 million seniors added to the count
(I plan on being one/am one). That's one of the reasons the federal
government is making LTCI a tax-incentified issue (sorry about that
word, but I can't think of anything else).

Consequently,I would not recommend Medicaid planning to anyone, but
would recommend wealth preservation through such programs as LTCI.
Yes, LTCI is not for everyone, but if your assets not counting your
house are above $100,000, you very well should consider LTCI. And, if
you want a chance at deciding what decisions get made for your long
term care, private pay is the only way.

J.L. Fabian

Sorry I didn't post the link in my first post, and now I see that it will
not be allowed. Anyone interested, e-mail me privately.

Part of the education link on the site talks about the need for LTC
insurance. Most of you believe that you need life insurance. I guess that
means that you believe there is a chance that you will die young. What if
something happens when you're young but you don't die? Many of you think
that disability insurance is the answer. If the something that happens isn't
too bad, then that will probably be the answer. But what if you have a
life-threatening accident, and the guy whose fault it is doesn't have enough
insurance?

A few years ago, a friend of mine was out riding his bike and got hit by a
car. He was very fortunate that someone who knew CPR was on the scene in a
short time, but not quick enough for Bob not to suffer some brain damage,
though Bob had been wearing a helmet. He is much improved, yet he will
always need some care. What if this happened to you? With no one to do CPR
your life insurance would kick in, but is that what you want to depend upon?
Do you have family who doesn't need to work so that s/he can take care of
you? Are you hoping that guy whose fault it is will have enough insurance to
pay the bills? What if he doesn't? Will you be able to afford the kind of
custodial care you need?

I am planning to become an old person, and I expect that's what most of you
are planning also. Who will take care of me when I'm too old to take care of
myself? (My children will probably be retired themselves before I die.) More
importantly, who will pay for it? Is this the same kind of planning you are
doing for your anticipated retirement needs?

Elizabeth Richardson