Sign in to follow this  
KevinL

Long Term Care Insurance

Recommended Posts

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.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.