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Long-Term Care Insurance
Posted on 12/9/25 at 8:18 am
Posted on 12/9/25 at 8:18 am
My wife and I (ages 53 and 55) are considering long-term care insurance covering both of us, as we transition into our senior years. We have just started educating ourselves on the topic. While we are each above-average from a financial/legal literacy standpoint, it seems we should have an independent agent/expert help us evaluate the different policy options and insurers.
Do any of you posters have such an agent/expert you would recommend?
Thanks in advance!
Do any of you posters have such an agent/expert you would recommend?
Thanks in advance!
4
Posted on 12/9/25 at 9:31 am to Woodlands LSU Tiger
Was listening to a financial show on the radio, and they mentioned an insurance annuity that paid a nice interest rate with a multiple payout in the event of long-term care which can be crazy expensive. If there is no long-term care need, you still get your money plus CD-like interest.
They didn't mention the name of the insurance, but it is something to look out for.
They didn't mention the name of the insurance, but it is something to look out for.
Posted on 12/9/25 at 12:32 pm to Woodlands LSU Tiger
Average duration in care depends on whether in home or facility use. In facility is lower percentage and most expensive. Use 4 yrs at high average use rate, say 100k per yr. So max 400k benefit. Starting here gives broad macro to high side cost of coverage. Incorporating retirement income distribution figures can lower need of high benefit.
Apply the coverage as a gap policy to a certain age, knowing that premiums increase. Maybe stop policy at age 78-80? Incorporating HSA use to pay the premium will offset some of the expense.
Very coincidental your OP today. I've been deep diving this topic for the past few weeks.
Apply the coverage as a gap policy to a certain age, knowing that premiums increase. Maybe stop policy at age 78-80? Incorporating HSA use to pay the premium will offset some of the expense.
Very coincidental your OP today. I've been deep diving this topic for the past few weeks.
Posted on 12/9/25 at 6:33 pm to Woodlands LSU Tiger
LTC insurance is super expensive.
And, there’s only like 4 carriers still offering it.
The much better option is a life insurance policy, either WL or UL with an ltc rider.
And, there’s only like 4 carriers still offering it.
The much better option is a life insurance policy, either WL or UL with an ltc rider.
Posted on 12/10/25 at 9:38 am to Woodlands LSU Tiger
Too late for you, but this advice for the younger guys...marry a girl with a professional degree that graduated about 8 to 10 years after you...a trust fund is also helpful.
Posted on 12/10/25 at 7:22 pm to BamaCoaster
quote:
The much better option is a life insurance policy, either WL or UL with an ltc rider.
You will get down votes but you aren't far of the mark. They are called hybrids. They are either WL or an Annuity with LTC included. Nationwide and One America have some very good plans.
Posted on 12/10/25 at 7:46 pm to BestBanker
AI Overview
Yes, you can use your Health Savings Account (HSA) to pay for qualified long-term care (LTC) insurance premiums, subject to annual age-based IRS limits. The policy must meet specific criteria, like being guaranteed renewable and covering help with daily activities or cognitive impairment, and it cannot be a hybrid life/LTC policy.
Age-Based Deduction Limits (Example for 2024):
40 or younger: $470
41-50: $880
51-60: $1,760
61-70: $4,710
71 or older: $5,880
Yes, you can use your Health Savings Account (HSA) to pay for qualified long-term care (LTC) insurance premiums, subject to annual age-based IRS limits. The policy must meet specific criteria, like being guaranteed renewable and covering help with daily activities or cognitive impairment, and it cannot be a hybrid life/LTC policy.
Age-Based Deduction Limits (Example for 2024):
40 or younger: $470
41-50: $880
51-60: $1,760
61-70: $4,710
71 or older: $5,880
Posted on 12/10/25 at 9:26 pm to Auburn1968
Annuity-based solutions are not ideal for someone his age. There are hybrid life insurance products that may be a good fit there.
There is also potential upside if there is a guaranteed payout and the ability for market-based sub-accounts to grow his benefit pool
There is also potential upside if there is a guaranteed payout and the ability for market-based sub-accounts to grow his benefit pool
This post was edited on 12/10/25 at 9:28 pm
Posted on 12/10/25 at 9:28 pm to La Place Mike
quote:
Nationwide and One America have some very good plans.
Yes. However Lincoln MoneyGuard is the oldest and has a fantastic track record
Posted on 12/10/25 at 10:04 pm to jrobic4
quote:
Yes. However Lincoln MoneyGuard is the oldest and has a fantastic track record
Yes, Lincoln MoneyGuard is a good plan too. One America offers unlimited lifetime LTC benefits. Nationwide and One America are more flexible when it comes to family care. Lincoln is professional care only.
Posted on 12/11/25 at 7:37 am to BestBanker
PS. Look at all the plans to include home care options.
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