The New York Times recently ran an article by Ann Carrns about long-term care insurance (LTCI) claims.
The reporter quoted comments by Jesse Slome, the executive director of the American Association for Long-Term Care Insurance, Westlake Village, Calif., about the fact that for now, at least, the typical LTCI claimant is a woman.
Nothing in the article would be too surprising to anyone who hangs out at LifeHealthPro.com, but I thought the reader comments posted below the article were really interesting.
One reader talked about how much help having private LTCI had been for her in-laws. She said her father paid premiums for 5 years, then died without using the policy, but that her mother paid for 8 years and ended up using $372,000 in benefits to pay for 5 years of nursing home care.
Another poster cited the story of a mother who had bought LTCI coverage, filed a claim, and discovered that restrictions whittled the value of the benefits to next to nothing.