Bear...as to what they told you tho...do you still have a mortgage on the property ?
That could be where they are coming from...but I would think that after a catastrophe and after the mortgage is paid off you would be free to go anywhere.
That could be where they are coming from...but I would think that after a catastrophe and after the mortgage is paid off you would be free to go anywhere.
Yeppers!!! I fully intend to do that. Never knew I had to!
She calls me every 6 months just to be sure nothing has changed and I do
have faith in her. This particular policy was one Long Term Partner #1
had drawn up... he took care of all that. I just had the "owner" designation
change made in 1993 and did not give it much thought. Like I said, it
was our friends' adventures-in-building that brought this all to mind.
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Well, we went through the replacement cost estimator thing and
the policy is over-insured by about $80K. Which is fine, I guess,
because there ARE things I would do differently if I have to rebuild.
The extra actual premium cost is virtually negligible, she quoted
the prices and it was like only +$35/year.Hell... give me an
extra $250K at that price.
The thing is... the thought of rebuilding makes my stomach turn.
I do not believe I have the REQUIRED PATIENCE for doing that. I
admit it. Plus, any contractor I have to deal with would walk away
from the job. I'm a hardbass. Yes. I am. Hard to believe, but
true.
And speaking of insurance...
I received a cold call from some John Hanpenis rep re: long-term
care insurance and mentioning New York's "partnership" thingamajig
which stalls the Medicaid spend-down requirement by 2 years. (I
picked up the phone ONLY because I was expecting a call from Dad.)
???
Blah blah, blah-blah-blah. @AttyPops
So I called my financial guy about it because he puts on a 2x-yearly
informational session about long-term care and asked HIM about it.
We'll be discussing it at the next review, 1:1 rather than in a group
setting. I warned him right off that if such a policy does not fit into
the budget (which *HE* designed), then I probably do not want to
talk about it, much. As long as I have 3 or 4 years of assets to self-pay
nursing home costs, then that most likely assures me that I'll be in
an institution which is somewhat palatable. Chances are, I'll be dead
by then, anyway.... which is why I never even CONSIDERED long-term
care insurance in the first place.
I am HOPING that I have enough hint ahead of time that I need to
start "gifting" and charitable-giving to avoid the Medicaid look-back
period, which I think is 6 years now. It may be state-specific. Dunno.
The thing is: the majority of folks do not even THINK about this stuff,
period. You - yes YOU - should think about it.
Take some of your ECF time and review what you have lined
up for the future. The two "jolts" in the last couple of weeks
have MY interest. And given the time of year, I'll have even
more time to spend on truly important topics to be sure things
go smoothly... some time in the future.
probably got there way ahead of you, bear!
i thought we were early, early, early when we checked into long term care insurance (2001) unfortunately, dh's parkinson's diagnosis happened at the same time and that was the end of it 
Poppin' in to say an early good evening and night. A long day today, even though I didn't do much. Just over tired, I think. Sleep well, pleasant dreams and a better tomorrow.
Enjoy dessert!!
Enjoy dessert!!
Good night KatPoppin' in to say an early good evening and night. A long day today, even though I didn't do much. Just over tired, I think. Sleep well, pleasant dreams and a better tomorrow.
Enjoy dessert!!
probably got there way ahead of you, bear!
Dang rotten timing !
