Recent content by LongTimeBucsFan

Business owners/self-employed can deduct LTCi premiums off the top of their incomes on the front of form 1040. They don't need to itemize. The purpose of this product is to pay for long-term care. Since the LTC rider is unlimited you don't need a million dollar death benefit. A $250K death...

If someone needs life insurance they should not buy a hybrid policy. That's obvious, isn't it?

If both spouses need care simultaneously, the monthly benefit is paid for each spouse. The death benefit is used up in 12.5 months, then the LTC rider kicks in. They both get the full monthly benefit. It's perfect for spouses.

It only takes 25 months to exhaust the death benefit, then the LTC rider kicks in. Also, the LTC rider premium is tax-deductible.

The OneAmerica policy uses the death benefit to pay for care first. Once the death benefit is exhausted the LTC rider kicks in. The LTC rider has no limit on how long it can pay the long term care benefits.

The LTC rider on the OneAmerica policy is an unlimited benefit period. It's available in every state except New York.

OneAmerica. It is a 2nd to die policy. One contract, covers both spouses. Base policy is whole life insurance. Rider is a tax-qualified LTCi policy with an unlimited benefit period.

The federal plan can give you quotes right online instantly.  https://www.ltcfeds.com/programdetails/customizingaplan.html The federal plan has good rates for women, but not good rates for men. The federal plan would have cost me more than twice what I'm paying for comparable benefits.

If someone spends $10,000 per year on long-term care insurance, they are dumb!   

$10,000 per year for life? That's ridiculous. The average new policy costs about $2,700 per year for a 59-year old.

Not all long-term care insurance policies are the same. Large group plans like the federal employee plan, don't have to comply with each state's rate increase regulations. A friend of mine purchased a policy with guaranteed level premiums. He was a little younger than you (about 45) when he got...

Self-insuring makes sense if you know when you'll need care and how long you'll need it for.

If some insurance agent showed you a policy that was more than a mortgage payment, he wasn't showing you long-term care insurance. It was probably a life insurance policy that supposedly can "pay for long term care too". My long-term care premium is about $100 a month and I'm in my mid-fifties, too.