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Topic: Long term care insurance

Forum: Employment, Insurance, and Other Financial Issues —

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Posted on: Jul 14, 2020 03:01PM

everythingwillbefine wrote:

Just curious how many have purchased long term care insurance?

Now that I just got diagnose of LCIS on the right breast and I am almost 48

Still waiting for the result of left biopsy and I am thinking it might be a good idea to buy in now.

Thoughts?

Dx 7/7/2020, LCIS, Right Dx 7/14/2020, DCIS, Left, Stage 0, Grade 2, ER+/PR+ Surgery 7/31/2020 Lumpectomy: Right Surgery 7/31/2020 Mastectomy: Left Dx 8/6/2020, LCIS, Right Dx 8/6/2020, DCIS, Left, 6cm+, Stage 0, Grade 2, 0/1 nodes, ER+/PR+ Hormonal Therapy Tamoxifen pills (Nolvadex, Apo-Tamox, Tamofen, Tamone)
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Jul 14, 2020 04:13PM - edited Jul 14, 2020 04:16PM by Mavericksmom

If you are interested in it, I would advise doing it while you are young. You may not feel young, but you are.

It really depends on your financial status and your retirement plans.

If you want to move into an adult community some day that has independent living, assisted living and nursing care, you may need it. In my area it is a requirement unless you have a very substantial amount of money in savings.

Note, many companies were forced to stop offering that care because when it began years ago, the actuaries grossly misjudged that people would live much longer and the cost of health care would Skyrocket! The combination has cost many policy holders much more than they expected to pay when they signed into the plan. There are also fewer plans available due to that as well.

Do your homework. Insurance is always tricky. You are planning on the worst and the insurance company plans on the best. There is no simple answer.

I am 66 and I decided against it. Life is a gamble, but it couldn't be more true than it is now in the age of Covid.

Dx 6/6/2003, IDC, Left, 1cm, Stage IA, Grade 1, 0/24 nodes, ER+/PR+ Dx 12/4/2018, ILC, Left, 1cm, Grade 2, ER+/PR+, HER2- (FISH)
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Jul 14, 2020 04:30PM Murfy wrote:

I was researching plans and then diagnosed. Have had to wait 3 years post-surgery before can sign up and hope will be considered. The hybrid plans are popular (I'm going with Pacific Life). Everything paid in comes back if unused. Is life insurance plan and long-term care plan with many options depending on long-term care plan you select. I think traditional long term plans are a thing of the past as mentioned above.

Dx at 62: Oncotype=52; Path (ER=99%, PR=0%, Ki67=55%) Dx 10/2017, DCIS/IDC, Left, 1cm, Stage IA, Grade 3, 0/5 nodes, ER+/PR-, HER2- Surgery 11/14/2017 Mastectomy: Left Chemotherapy 1/13/2018 Cytoxan (cyclophosphamide), Taxotere (docetaxel) Hormonal Therapy 3/31/2018 Aromasin (exemestane)
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Jul 14, 2020 04:33PM BevJen wrote:

Also, if you are considering long term care insurance, you are better off trying to get it before you have a definitive cancer diagnosis. They do medical underwriting for those insurance policies. Interestingly, I was diagnosed with cancer originally in 2003. I had my first instance to metastatic breast cancer in 2006. My husband is a diabetic and has had to have several toes removed due to complications. When we went through the questioning for the medical underwriting, it was his stuff that they cared about, not mine. The explanation three years ago? I had been "cancer free" for over 5 years. Long story short, we didn't qualify and so I'd urge you to look into it sooner rather than later.

Dx 11/2003, ILC, Left, Stage IIIC, ER+/PR+, HER2- Dx 6/2006, ILC, Stage IV, metastasized to other, ER+ Dx 5/2019, ILC, Stage IV, metastasized to liver, ER+/PR+, HER2- Surgery 7/5/2019 Targeted Therapy 8/1/2019 Ibrance (palbociclib) Radiation Therapy Surgery Lymph node removal: Left, Sentinel; Mastectomy: Left, Right; Reconstruction (left): Pedicled TRAM flap; Reconstruction (right): Pedicled TRAM flap Chemotherapy TAC Hormonal Therapy Faslodex (fulvestrant) Hormonal Therapy Tamoxifen pills (Nolvadex, Apo-Tamox, Tamofen, Tamone) Surgery Lymph node removal; Mastectomy; Reconstruction (left): Pedicled TRAM flap; Reconstruction (right): Pedicled TRAM flap Hormonal Therapy Femara (letrozole)
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Jul 14, 2020 05:06PM everythingwillbefine wrote:

Thank you

I am looking into Pacific life now.

Did you buy the life insurance as well as long term care with them or only the life insurance?

Thanks.

Dx 7/7/2020, LCIS, Right Dx 7/14/2020, DCIS, Left, Stage 0, Grade 2, ER+/PR+ Surgery 7/31/2020 Lumpectomy: Right Surgery 7/31/2020 Mastectomy: Left Dx 8/6/2020, LCIS, Right Dx 8/6/2020, DCIS, Left, 6cm+, Stage 0, Grade 2, 0/1 nodes, ER+/PR+ Hormonal Therapy Tamoxifen pills (Nolvadex, Apo-Tamox, Tamofen, Tamone)
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Jul 14, 2020 06:06PM MinusTwo wrote:

I'd love to have long term care insurance. But I couldn't afford it when it first came out. And for that matter, still couldn't even if I could pass the medical requirements. If you can afford it, I agree - do it while you're young.

However, when my ex-husband bought his, he discovered that the rates keep going up and were not locked in. Just be aware that of that fact.

2/15/11 BMX-DCIS 2SNB clear-TEs; 9/15/11-410gummies; 3/20/13 recurrance-5.5cm,mets to lymphs, Stage IIIB IDC ER/PRneg,HER2+; TCH/Perjeta/Neulasta x6; ALND 9/24/13 1/18 nodes 4.5cm; AC chemo 10/30/13 x3; herceptin again; Rads Feb2014
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Jul 16, 2020 04:38AM Murfy wrote:

Everything, the hybrid plan is a long term insurance plan that also has a life plan with it. I think that's what makes it 'hybrid'. This is different from a solo life insurance plan.

Dx at 62: Oncotype=52; Path (ER=99%, PR=0%, Ki67=55%) Dx 10/2017, DCIS/IDC, Left, 1cm, Stage IA, Grade 3, 0/5 nodes, ER+/PR-, HER2- Surgery 11/14/2017 Mastectomy: Left Chemotherapy 1/13/2018 Cytoxan (cyclophosphamide), Taxotere (docetaxel) Hormonal Therapy 3/31/2018 Aromasin (exemestane)

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