browser57,
Thank you. I think I'll track down a copy of DR's book.
My BIL is a tax expert. I'll pick his brain the next we get together. Thanks, again!!!

After my aunt had her stroke, my mom followed with her own stroke. My aunt had long term insurance. My mom did not. My aunt is now choosing where and how she's being cared for. My mom is dependent upon the government... and trust me, her options are limited and poor.

I researched LTC for me and my husb last year. My uncle, who use to sell life ins., found me the three best companies to go with (in order of quality for price): Allianz, Genworth, John Hancock. Of the three, his friend (who actually sales LTC) gold starred Genworth. The things is the sooner you get coverage, the less it will cost on a monthly basis. The longer you wait, the higher the premiums, which makes sense, because prices will rise and cost will become denser as one ages. One thing he tried to drive home... make sure there is an a built in inflation adjustment for bed rates (i.e. today a bed may cost 130 per day, five years from now it could cost well over that).

Also, here were some notes on the quotes we acquired:
Each Day You Wait Means:

You have no long term care insurance should you need it.
You may put yourself at risk of not being in good health and able to qualify for coverage.

Each Year You Wait Means:

You may have to choose a higher benefit level to keep up with rising long term care costs.
You will pay higher premium rates for the same coverage due to your increased age.

To give you an idea of our quotes:
Genworth yearly premium @ $2,895.39
John Hancock yearly premium @ $2,967.22
Allianz yearly premium @ $2,544.25
All of the above had facility benefits @ $130 per day.

By the way, I checked with AARP, during my research, and they had just signed on with Genworth, as their AARP provider.

As a side note: my husb and I have not taken action, but plan to before his next bday... which is fastly approaching... the old fart!!!

A couple more things (advice from my uncle)...
1.Choose A-rated providers.
2.Choose providers that have been in LTC for 10 years or more.
3.Check companies, such as Standard and Poor's or Moody's Investors Service, to evaluate a providers claim paying ability... oh, and their history of raising rates.
4.Check into the provider's financial statements, investment records and customer satisfaction - I think this can be done through companies like the ones mentioned in #3, but I'm not sure.

gims U R a doll,
I've been considering and researching [Genworth]. I C they R an international company with worldwide offices. Even at a yearly cost of $2,895.39, it's a bargain. That's compared to the $1,500.00 per week in a county home, where workers are more concerned with vacations and paychecks, than looking after the aged and sick. I downloaded your info to share with hubby. Hopefully, it'll help me convince him to get aboard with LTC insurance coverage!
Thanks again, girlfriend!!!

And JawJaw,
Thank you 4 your input 2! This is a huge decision and I sure appreciate all of U helping me with it!!!! Luv you gals!!!

gims,
I researched LTC insurance. And 1 thing that stopped me in my tracks: 90% of 60 year olds that purchased LTC, cancelled those polices before age 80. The way I C it, when 90% of the public does something, the other 10% ought to take notice! And ask why? Apparently, insurance companies keep hiking rates after the policy holders are locked in and to a point where folks' can NO longer afford monthly payments. A rep from Genworth phoned here but hubby is dead-set against LTC coverage. So, unless that rep can convince Wild Bill it's a good idea, we won't be signing a contract anytime soon. U C, hubby is usually right. I also read coverers' require time lapses before payments kick in; and they limit payment parameters. I said to my guy, "The best we can hope 4 is 2 die in our sleep!"

I just sent this link to my husband. We bought LTC insurance. I hope he was aware of all this. Thanks!

DR was on Fox's Morning Show with Mike and Juliet the other morning. He sounded like he knows what he's talking about.