Just let me say this, looking at LTC insurance without inflation coverage is like looking at a health insurance policy that only pays hospital room rates at what they cost today, and you would never consider that, would you? Terrible advice from the other agent, the cost is tripling in 20 years and you are only 53 years old, 30 years from now when you’re 83 you’ll be looking at costs of probably $850/day and that much benefit isn’t even offered today. If anything, you need to bump up your daily benefit a little more than the average cost in your area, because the inflation on the policy is 5% compound, and the government projection is more like 5.8%. Also, think very hard about the federal plan, I think that may be the way your wife can get coverage and that’s a wonderful gift.
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