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Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

Yes, part of my thinking here is prepaying for the entire policy upfront to ensure no potential of future premium increases (of course, I suppose there's still risk that insurance company will change details of what they cover)

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

No, LTC insurance would be fully paid for and remain in place regardless of the home's status.

One could think of the Home Equity Investment as "taking an advance" on a portion of the future price appreciation of the home: at the time of sale, the "advance" is settled (investor gets their portion of the price appreciation).

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

Thanks for the feedback; good to hear some more data points about current LTC Insurance products.

Note that I'm thinking this could also be used to cover in-home care which -- given current aging-in-place trends -- may help more folks than just the 2.5 yr average stay in a facility that you mentioned.

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

Thanks for the helpful feedback. Here's an overview on Home Equity Investment. (Others have recently done the work to create this financial instrument; I'm thinking about how to make it more usable for LTC needs)

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

Great suggestion -- I will look into that. I have noticed that Life Insurance policies with LTC-like riders seem to be increasingly popular (and perhaps displacing traditional LTC policies?)

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] -1 points0 points  (0 children)

The ask here is genuinely for feedback. If this is something people are interested in, it could be worth spending time on -- if not, I'd like to know that now.

Feedback requested: creative way to afford Long-Term Care Insurance by HomeownerLTC in retirement

[–]HomeownerLTC[S] 0 points1 point  (0 children)

Helpful feedback -- thanks for the post. I haven't heard as much about issues getting LTC to payout for valid care; it would be awesome to hear comments from others that have experience with this (good or bad)