6 replies to this topic

[gterrys]

Real life issues and experiences from those who HAVE lived a real long time (95+)

[gterrys]

I wanted to start this topic as a member of a family with longevity. In my research as the family historian, people in my family die over 95. Most around 99 and a number over 100. In short, if a war or an accident does not get you, we expect to see 100. Great you say, but living a long life in our current society has it's issues. Many of which are not being discussed here. I started this topic to cover some of the realities and practicalities of living a 95+ life in our society.

I bring this up as I watch my parents, both healthy and in their 90s, face losing essential services (retirement income, medical coverage, life insurance) because coverage stops at 95. Companies will tell you they don't both mentioning their age ceilings because they just don't expect people to live that long. If you complain, they tell you to read the small print. It is an ice bath you do not see coming until it is too late.

The second issue I want to discuss is people 95+ and loneliness. My parents are lucky. They are the intermarriage of two longevity families. They are growing old together while their friends die around them. I married into a family that die before 70. I have already buried my husband, and will probably outlive his children, and grandchildren. My father says "it almost makes living a long time not worth it." My mother'stake is more humorous and practical, "stock up on black dresses."

The third issue I want to discuss is the untapped source of history and loss of folk knowledge. I used to love to watch old movies with my parents, grandparents, and great grandmother for their running historical commentary. I learned so much not only about historical events, but also about the philosophy, morality, ethics, life issues, or simply the way people lived. My great-grandmother gave me a first hand account of Lincoln & the Civil War, while my grandfather talked about serving in the tsar's army and seeing the royal family. On the other hand, my grandmother was wonderful for showing me how things worked: a cast iron iron, a hoop skirt, and a peddle sewing machine. She also taught me her "medicinals" - a compendium of medical knowledge orally passed on generation to generation.

I offer these as conversation starters.

[niner]

Hi gterrys, welcome to Longecity! Thank you for the thoughtful conversation-starter. The first two points that you raise are both problems with living a long time today. I'd never heard of insurance that conks out at 95! That is grossly unacceptable. It is probably a thing of the past as of January 1, 2014, since one of the aspects of Obamacare is the removal of age-related barriers to insurance. The second problem, loneliness, will continue until we reach the objective of medical treatment that repairs the cellular damage that is the root of aging. If this were widely available, then people would no longer have to start dropping like flies in their 70's and 80's.

The third issue of untapped history and folk knowledge is yet another problem with people dieing 'on schedule'. It's a great reason to both talk to your older friends and relatives today, and to support rejuvenation therapy for the future.

[gterrys]

I hope you are correct, but I am not sure how Obamacare is going to change the practices of life insurance carriers. I discovered the 95+ rule by applying for life insurance this past month. I explained I wanted a $30,000 policy because when I buried my husband in 2012 it cost $18,000 and I thought $30,000 might be enough to cover the cost of a funeral around 2050. We proceeded through the interview covering my health and my family's medical history. He was a bit surprised when he asked about the cause of death for my parents, and I explained they were both still alive, and in fact, only recently buried my grandmother. I explain that THAT is why I need to plan for a funeral 40+ years down the road and was trying to guess at the cost. He finished the intake said sit still and went to speak to his partner. he returned with a printout for me. It ended at 95. I asked what about from 95 to 100. He said that would change my rate, and returned with another chart. I gasped at the $1,700 per month price tag for $30,000 of insurance. He explained I had to buy a special rider to cover the 95-100 years and that this was the ONLY way I could extend my coverage to 100. Also the company would not insure me over 100, in fact if I lived to be over 100, the company cancelled the policy and kept the money.

The logic baffles me. If I were to die in the next two years, the company receives a minimal amount of income from me, but must pay my heirs $30,000. If I die 40 years from now, the company receives an amount in excess of the policy, but only has to pay my heirs $30,000. BUT if I live two years beyond that the company get to keep everything I paid in without having to pay out a dime.

I am no philosophy major, but economically speaking, logic tells me the company benefits by me living longer and paying them as long as possible. I am also quite angry that if I did not push the 95 to 100 question, I probably would not have discover the 95+ clause until the monthly bills stopped coming or my heirs discovered my policy was worthless.

I am now left trying to figure out if I go with the expensive policy/rider and hope I live long enough to make the expense worth it but die before I outlive it at 100, or risk a policy without the rider and hope I die younger than 95. It all makes me feel bad about having good genes. Either way, I have to find the words to talk to my parents about THEIR life insurance policies.

[niner]

Oh, LIFE insurance! I thought you were talking about medical coverage. I think you are talking to the wrong people. You don't need life insurance. You need an investment plan! $1700 a month for a lousy thirty grand is absurd. Your premiums would be over twenty thousand dollars a year! If all you care about is having thirty thousand in 37 years, all you need to do is open an account at Vanguard, put a few grand in the S&P 500 Index, and forget about it.

Your insurance guys are thieves. Don't let them take you for a ride. Don't let them take your parents for a ride either. Retired people don't need life insurance.

[Luminosity]

That's true. You can save/invest your own funeral money. Don't pay $1,700 a month. I don't know much about funerals, maybe there can be one that doesn't cost $30,000. There are some kind of mutual aid societies, there was something like the Sea Burial Society or something. Funeral homes sell you a lot of stuff when you are bereaved. You could look into what you really want and need and tell your heirs so they don't get ripped off.

I'm sorry to hear that benefits are being withdrawn from people over 95. That seems wrong. Besides life insurance, what specifically is it? They really terminate your health insurance and retirement income? Who's doing that?

[Layberinthius]

I doubt he/she would be able to respond, for fear of legal action, ie slander.

Insurance companies are very very powerful.

I know of one person in our extended family who has to constantly take blood thinners to stop his blood from clotting, any small cut or nick on his hands can potentially be deadly.

The knowledge that he has gained however over the last 90 years is incredible, he knows every single thing about vacuum tube technology. From the very beginning to modern day.

He could build you a radio transmitter, receiver, oscilloscope, stable oscillator, multivibrator inverter. Even the workings of a simple computer.

Linear amplifier for the AM BCB, Shortwave, FM. Many different kinds of Filter circuits. even worked on multiple stage broadcasting stations for TV VHF and RADAR.

My best advice for somebody this old is, start replacing internal parts, bones at this age begin to decay fast. Steal a liver, kidney, or two.

Nobody would put somebody this age in prison and you've probably already survived 2 world wars, i say the world owes you some spare parts.

And become a teacher or a youtube personality, MAKE MONEY on your gained knowledge! Use that money to repair your body.

Having a good sense of humour is good too.

Edited by Layberinthius, 07 November 2013 - 02:31 AM.