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Long Term Care Insurance

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My company is now offering Long Term Care Insurance.


For a certain amount of $ monthly, I can get insurance that pays my nursing-home care when I get old.


The cheapest plan is $30 / month, and I get $120/day, up to a total lifetime benefit of $131,000. I'm 38 so I'd be paying the 30/month for at least let's say 40 years, possibly more. Or I could die and get (who knows, I haven't read the fine print yet).


I did use a simple savings calculator to determine that if I saved $30 / month for 40 years at 5% I would end up with $45,780. At 12% the final total jumps to $352,943.


I'm guessing I'm better off simply investing the $30.


If there's a huddle expert on long term care, enlighten me.

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