Long Term Care Insurance

Long Term Care Insurance is a really good idea - I think. I signed up for this a number of years ago and so I have spent quite a bit on monthly premiums to date. And it's not cheap. If you are a frequent reader of this blog you are probably saying to yourself that it's a good investment for this guy, no matter what the cost, because it sounds like he could start cashing in on it any day now - he's got to be drooling on his slippers to be concerned with the things he writes about.




And yet I feel that if I get run over by a golf cart, or become frustrated to death by watching C-Span and just fall over in my chair, that I just blew a chunk of money for nothing. At least with regular Life Insurance there is a certainty that someone, your beneficiary, will get paid for the investment. But with this long term care stuff, you're hoping you never need it, so by default, you are happy to be throwing your money away for years, hopefully decades.



So now I am in the process of assessing my entire insurance portfolio. We have not invested in Long Term Care for my wife, but I have a feeling that we should. She has been complaining for years that I am driving her crazy; I always assumed that she was exaggerating but perhaps we should hedge our bets.

I am also going to see if we can bundle our LTC coverage with our auto insurance. That way they can send a roadside assistance guy when you get a flat on your mobility scooter or he can pick you up and get you going again if your onstar device on your walker indicates that you've tipped over. How come I wasn't asked to weigh in on improving health care?

BBFN - Fanatticman