Long term care insurance... anyone have experiance in this?

[Thystle]

Ok I have seen on a few forums people talk about paying for LTCI for their parents.

Now I know what it is but not specifics like do you have to be a certain age? What would it cost?

For example if we took a 55-60 yo old male parent and paid for it for him (if he is old enough?) what ballpark cost are we talking? Does it matter what state? Really rough estimate is fine.

Anyone have a good plain language link?

Thanks!  :)

[mnnice]

You don't have to be a certain age.  DH and I have it as a benefit from my employer and have had it since we were in are early 30's.

It's really only a product generally thought to be important to middle income folks.  Wealthy people have enough money to pay for LTC from their assets and poor people qualify for Medicare pretty quickly. 

I am not real sure why you purchase it for relative? Maybe for insure that they would stay in a facility nicer than if they were a Medicare patient?