说说混合的长期护理保险 (Hybrid LTC)

May 25, 2019

Hybrid Long Term Care Insurance (LTC)

by JessAB

 

Long term care insurance (LTC) is part of the overall financial/estate planning.  I am that kind of person who likes to think ahead and prepare for the future.  It serves me well with this mentality.

A hybrid LTC means that when the policy owner doesn’t need LTC, he/she can still receive death benefit although the death benefit is much less usually a little more than the premium paid as compared to the LTC benefits that the policy owner would receive when needed. 

Something to think about:

1.  How many years of LTC are needed like two years acceleration with 2 or 4 years extension of LTC benefits, which give a total of 4 or 6 years of benefits.

2.  Whether to choose inflation protections like 3% or 5% compound rate.  Of course the higher the compound rate, the higher the premium.

3.  Elimination or waiting period: The 90 days waiting period means that the policy owner needs to be on long term care services (chronically ill) for 90 days in order to receive LTC benefits.

4.  Cash indemnity vs reimbursement benefits:  A cash indemnity benefit pays the full monthly LTC benefit without the policy owner having to submit specific monthly receipts while a reimbursement benefit (实报实销) requires evidence and approval of actual expenses before the receipt of the monthly benefit payment.

5.  LTC benefits received are typically considered as taxable free.

 

July 13, 2019

Estate planning: Long term care insurance 

As part of estate planning, finally cut two checks to LTC, each for $50000 premium.

This $50000 single premium policy covers two years acceleration and 4 years extension LTC benefits with 3% compound inflation protection for one person.

This policy has a face amount of ~$70000 that my beneficiary will receive if I die prior to needing LTC.

If I start to use LTC benefit at age 80, I can expect to receive ~$75000 per year and continue for a total of 6 years with 3% compounding.

The other good thing about this policy is that it is a cash indemnity benefit meaning that I can receive full monthly LTC benefit without having to submit specific monthly receipts.

 

?

所有跟帖： 

• 是不是先付10万保费，到时可以用6年，7万5一年？如果没用，可以拿回多少？ -hhtt- ♂ (0 bytes) () 11/25/2023 postreply 06:24:00

• 关键有个年龄限制吧？开始拿社安金是不是太迟了. -BBL123- ♀ (0 bytes) () 11/25/2023 postreply 06:29:18

• 是的, 一个人5万一次付完. 若不用LTC, 可以拿~7万death benefit. 80岁拿7万五, 每年增加3% -JessAB- ♀ (140 bytes) () 11/25/2023 postreply 06:38:51

• 有没有年龄限制,我父母80多岁时才想买太迟了. -BBL123- ♀ (0 bytes) () 11/25/2023 postreply 06:48:42

• 一般是18到79岁. 85岁以后好像不行 -JessAB- ♀ (0 bytes) () 11/25/2023 postreply 07:02:01

• 保费应该是年纪越大越贵，5万保费应该是50岁左右的价？不知要等多久才能用？ -hhtt- ♂ (0 bytes) () 11/25/2023 postreply 07:11:00

• 任何时候有需要都可以用, 比如若不幸60岁需要,大概一年可拿4万二, 每年递增3%. -JessAB- ♀ (0 bytes) () 11/25/2023 postreply 07:34:21

• 想当年我给我父母买了， 当时他们刚60， 每个月两个人大概350刀，现在83了。 -smlandlord- ♂ (590 bytes) () 11/25/2023 postreply 07:02:33

• 那你用到了这个保险吗？ -BrightLine- ♂ (0 bytes) () 11/25/2023 postreply 07:11:04

• 那在Indiana,这个LTC 就值得买。 -alpha123- ♀ (0 bytes) () 11/25/2023 postreply 07:40:25

• 有缴费年限吗？每月350，也不是小数字。这个法律很好，过了100K政府接管.保险费也没给政府，保险公司赚了。 -bobpainting- ♀ (0 bytes) () 11/25/2023 postreply 09:12:53

• 这个350的月费，我相信大概要缴20年。一般的规矩是，一旦合资格领取，就不用再缴费了。 -原上草2017- ♂ (0 bytes) () 11/25/2023 postreply 13:57:47

• 加州是不是要搞全民ltc? 想看看他们的实验可行性如何。 -haomahaoma99- ♀ (0 bytes) () 11/25/2023 postreply 07:09:30

• 也听说全民LTC，好像是从工作的paycheck就开始扣起，不过这个立案审批过程也许10年15年都可能，机器人护士都出现 -trimtip- ♂ (0 bytes) () 11/25/2023 postreply 11:34:06