State Farm LTC Info?

[Mr_Ed]

Understand and agree....the bigger $ differences were when I used Hancock or Prudential or Mutual of Omaha, or Metlife or others that gave her the comfort level of A+ or better .....as so far (haven't even met with her yet) she seems more hung up on ratings because if Clark Howard says it, it must be true. Lemmings?

I am sure you have run into people who are concerned over GNW comdex scores despite the $1B in claims paying.

Comdex is not a rating.

double check your moo premium. it's only $130 more per year AND its a PQP and it pays 4k per month instead of $125 per day.

 

[yankee466]

Comdex is not a rating.

double check your moo premium. it's only $130 more per year AND its a PQP and it pays 4k per month instead of $125 per day.

Hmmmm......I get $236/2630 with the $4K and unlimited and with 5% simple for a preferred 57 single person.......how do you get different? Mutual Care MyWay. Who here is doing what wrong? Unless you are of course suggesting the 3% compound instead.

 

[Mr_Ed]

Hmmmm......I get $236/2630 with the $4K and unlimited and with 5% simple for a preferred 57 single person.......how do you get different? Mutual Care MyWay. Who here is doing what wrong? Unless you are of course suggesting the 3% compound instead.

isn't a 3% compound a better choice, since it will qualify for the GA LTC Partnership--which gives her the option to drop down her bp in the future and still have assets protected?

plus it starts off with 4k per month in benefit, (about $133 per day), rather than just $125 per day like the SF pol. although the 3C grows a little slower, the extra $8 per day makes these nearly equivalent.

 

[yankee466]

isn't a 3% compound a better choice, since it will qualify for the GA LTC Partnership--which gives her the option to drop down her bp in the future and still have assets protected?

plus it starts off with 4k per month in benefit, (about $133 per day), rather than just $125 per day like the SF pol. although the 3C grows a little slower, the extra $8 per day makes these nearly equivalent.

Of course its a better choice.....I just was curious as to what numbers you were running when you made your last post and said it was only $130/year more.. Even GNW has a nice 3% option . Ideally I will take up her monthly/daily benefit, go to 3% cmpd, and lower the BP to 8-10Y. If she insists on A+, then MoO will have to do, even if I prefer GNW as a carrier.

 

[bluemarlin08]

If you think all policies are created equal, you are sadly mistaken. Compare the differences in Home Care and you will understand the differences and why I would NEVER make the decision on price alone.
No offense taken but I suggest you carefully review contract language.

 

[yankee466]

If you think all policies are created equal, you are sadly mistaken. Compare the differences in Home Care and you will understand the differences and why I would NEVER make the decision on price alone.
No offense taken but I suggest you carefully review contract language.

Hence my original question and reason for bringing this up.......does anyone know the differences in the language on HHC between SF and some of the other carriers that would cause one not to buy a SF plan. The SF brochure talks about home-maker services....so it implies you may not need to be licensed/certified caregiver.......but I can not say for sure without the fine print in front of me.

 

[Mr_Ed]

If you think all policies are created equal, you are sadly mistaken. Compare the differences in Home Care and you will understand the differences and why I would NEVER make the decision on price alone.
No offense taken but I suggest you carefully review contract language.

can you provide us with one example?

 

[bluemarlin08]

1. Requirement in most policies that you MUST use a licensed care providers. This alone can make a huge difference. From personal experience, licensed care providers charge, in my area, at least 20 per hour. We hired a care giver that use to work for a licensed provider and only paid 11 per hour. The option of using unlicensed care providers can double your benefit.

2. Monthly pool of money versus daily

3. Day one coverage for HHC even if EP is 90 or more days.

4. In addition, talk to the claims dept at NH and AL facilities and ask their experience with different companies.

 

[Mr_Ed]

1. Requirement in most policies that you MUST use a licensed care providers. This alone can make a huge difference. From personal experience, licensed care providers charge, in my area, at least 20 per hour. We hired a care giver that use to work for a licensed provider and only paid 11 per hour. The option of using unlicensed care providers can double your benefit.

2. Monthly pool of money versus daily

3. Day one coverage for HHC even if EP is 90 or more days.

4. In addition, talk to the claims dept at NH and AL facilities and ask their experience with different companies.

Bluemarlin,
Items 1 through 3 are available in every leading long term care insurance policy that I'm familiar with. Can you give us an example of some policy out there that does NOT include the benefits you list in items 1 through 3?

 

[bluemarlin08]

Other than GE and JH, would you list some?