re: Long term care insurnace policies

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Does anyone here have these? In our 30's and think it might be good.

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30s is probably too early for LTC; I would have disability coverage at that age though.

I think, could be wrong, that LTC is for the elderly and is frequently bought in the 60s although the premium is lower at younger ages.

My wife, both in our early/mid 70s, and I have LTC. Mine cost <$4k/yr; her’s is about $7k and going up. But they have different features; her’s will pay out about $4k/month for 10 years mine pays less and only for 3 years. Each one has a 5% inflation rider.

You can buy a “till the end of life” policy but they are more expensive. Most elderly need help and are in a facility for less than 3 years; the big issue is with healthy people with dementia - they can live a long time and need help.

Our policies are with Genworth and they made a major error calculating the life expectancy for females. As a result her premium has more than doubled in the past few years while mine has not gone up much in 10 years.

Policies can be structured in so many different ways that just comparing premiums is not meaningful.