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Chetek, WI | Transamerica is a nightmare. They make it deliberately almost impossible to get them to pay. My brother and I did it for my mom in assisted living while my dad was dying of cancer. It took both of us to get it done and if it had been during the summer when we are both busy I don’t think we could have done it. I was ready to give up and burning mad at them. That’s where the 2nd person is valuable. My brother and I agree that my older dad wouldn’t have been able to do it. Kids that have jobs and families would have a tough time also. This I believe is deliberate. They have full time people sitting at desks whose only job is to throw roadblocks in front of you and keep from paying out. My dad paid in $124,000 and never collected a dime. My mom is collecting $175/day now for the next 3 years.
This experience taught us that insurance companies are to be avoided for long term care and also investments. Put your money in a low commission index fund or land. Build enough assets and income to pay your own way when it is time. 100 paid for acres rented out is a better plan than insurance. Takes more than 100 acres here but you understand my thinking. | |
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troubles getting parent approved for Long Term Care
