Have you ever considered buying long-term care insurance?

Hi, I just came to this site from the Kidney Cancer site and I saw this question. My husband has stage IV kidney cancer and has been on sutent since Sept 2008 after removal of his left kidney in July 2008. The road is long and hard but we are meeting the challenges, though the last scan shows a slight advancement of the disease. Ok, with reference to the question we purchase long them health care insurance in 2004, coincidentally was when we retired. AT that time my husband was in excellent health, now he is dealing with the cancer and had a stent place in his LAD. We were prompted to buy the insurance after his mother had a battle with Altzheimers and his father attempted to be the at home care giver (he wanted to do it all himself, but that is another story). We have one daughter and never wanted her to go through what we did with them. It is costly and in these times cuts into our budget, but with the illness we are dealing with we don't know when we will need it. I can't do it alone and family (including our daughter with two babies) is not nearby. It is money well spent fo us. I am greatful for the peace of mind.

Quite simply. I have always believed that Long Term Care insurance should be a function of the potential heirs since it is their money that will be protected.

Jean, do you mean the potential heirs should seek it out and pay for it? I'm not sure you can hold an insurance policy on someone else that isn't your dependent. Hmmm...interesting concept. If LTC insurance was marketed to the children of the beneficiary, I wonder if more people would have it, and thus have more control over the type of care they receive.

Yes, Missy. That is exactly what I mean. I am NOT saying that the heirs, whomever they may be, should hold the policy; but they should be the ones paying for it it any manner they determine. Remember, the heirs are the beneficiaries.

I don't know if I wholly agree that the heirs are the beneficiaries. I guess it matters what type of care is necessary. Holding a LTC policy doesn't necessarily mean there will be much in inheritance left in the end. For all anyone knows, Mom will leave her estate to the Humane Society. You know? I wonder if it would be considered unethical marketing practices to advertise LTC policies to the children, for example, because that would imply a pay-off after the loss of their parent. All interesting thoughts!