Someone mentioned a great point about workplace support — or lack of.I was also relatively young in dealing with my father's illness (stroke) in my 30's. The people at work could not understand why I had to take time off for doctor visits etc. I had no family sick time, and each time I had to use vacation time. It was very stressful. I was single, and had to plan vacations etc around caring for my dad. He was not very thankful either.Now, my mom is in her 80's, not sick, just losing memory, not cleaning, etc. She is "with it" enough to get mad when anyone try to help. "I don't need any help"I'm so tired of taking care of my parents and my children I sometimes just want to scream !!!But, family is the most importnat thing, so it's worth it !Hang in there everyone..
Long-term care insurance
My wife and I are both only children, and we have no children ourselves. We are both 77 and decided with no one to help us later on, we took out a long-term home-care policy on both of us. We paid in for 5 years until they raised our rate (which was enormous) or reduced the benefits. We reduced the benefits and paid for 2 more years, when they again raised the rate. We decided that by the time we needed help, there would be no benefits left. So we dropped the policy after wasting thousands of dollars. We now save the same amount we were paying, and hope we have enough saved to care for one of us at home when the time comes. My advice: forget about long-term care insurance. It's a rip-off.
Conseco has allowed us to catch up missed payments for an elderly friend with Alzheimer?s who forgot to pay the premiums for the past several years because of her condition. The policy, now re-instated is supposed to pay $105 pre day of her nursing home care. They've acknowledged the first claim for two months and I expect they will pay as they have said they will. How many insurance companies do you know that will let you after the fact catch up you payments, re-instate your long-term care policy and start paying out money to you? I have to hand it to the local Conseco claims people for their help & kindness in going out of their way to help us. We?ve only had to submit a statement from her Dr. explaining how long he had been treating her for Alzheimer?s and pay the catch-up payments.So, even though some people have had problems, there are some good stories as well.
It is all a balancing act. If you drop dead of a heart attack did you really need to have long term care? Imagine having paid thousands in premiums that could have been part of your estate for a coverage that was never used. Thank god. Prudence vs Fear Uncertainty and DOOM (FUD). The key is to stay healthy my friends for as long as you can.