Long Term Care Options

If You Had the Option, Which Would You Choose?

Option 1
Sherry Meadows, first considered Long Term Care insurance in 1992 as her 50th birthday made her think about aging. But she put it off, shocked by the premiums and thinking she and her husband John had time. But, in 1997, he was found to have Alzheimer's. Now Sherry's life is about loss - of John, 56 and of life as she knew it. "I could kick myself for not taking out the insurance." she says. "But I had no idea we'd be facing this." [Time Magazine 1/99]

Option 2
Joe Cleary, wasn't planning on the massive stroke that disabled his wife Sue in May 1996. But luckily, less than two months earlier, and on the advice of a friend, he had arranged for Long Term Care insurance. Today more than a year after her stroke- Sue Cleary is at home, under the care of a full time nurse's aide. Joe Cleary continues to work part-time, confident that his wife has received the best care available. [Travelers LTC Case Study 1998]

Option 3
Rhoda Scheiner admits to being confused whether to purchase LTC insurance, a policy with annual premiums of about $2,500, but concluded she'd rather be safe than sorry. "I have children, and I wouldn't want to be a problem," she explains. My greatest pleasure would be not to need it." [Fortune Magazine 8/98]