If you're starting to think about your financial future, you're not alone. One of the most important ways to take control of that future is to create a plan for what happens as you age. It's gotten incredibly expensive to pay for what we call "long-term care," the kind of care you may require after an injury, illness, surgery, or simply due to the effects of aging. I can help you create one simple solution by combining life insurance and long-term care. Not sure you need to worry about long-term care? These stats may convince you otherwise:

  • Chance of experiencing a house fire: 1 in 1200
  • Chance of being in a car accident: 1 in 240
  • Chance of needing long-term care: 1 in 2

The Solution: Life Insurance with a Long-Term Care Rider

This solution combines a life insurance policy with living benefits you can use when it's time to pay for long-term care. When you buy your policy, you select how much of the death benefit you want available to help pay for any long-term care costs you might have. I can help you estimate how much your care might cost, if you're not sure.

If you need to use the long-term care benefits, that money is paid out to you tax-free to help with nursing home expenses, assisted living expenses, or an in-home health aide. If you don't use all of the money earmarked for long-term care, the remainder goes to your beneficiaries. Even if you use all the money to pay for care, many insurers offer a guaranteed death benefit that will still pay out 10% of the policy's face value.

The good news? If you don't need to use the long-term care benefits, the full death benefit amount goes to your beneficiaries.

This Solution Saves You Money

A life insurance/LTC rider combination saves you money in two different ways:

  1. Your payments won't ever go up. It's possible that, if you bought a separate long-term care insurance policy, your payments could go up. It's probably happened to you with your health insurance policy — well, stand-alone LTC insurance isn't much different. But when you maximize your life insurance with an LTC rider, your payments are set in stone.
  2. Your money never goes to waste. What if you don't need long-term care? If you pay for a stand-alone policy and don't use it, nothing comes of your investment. But with life insurance and an LTC rider, nothing goes to waste. Instead of paying long term care insurance premiums PLUS life insurance premiums, you make one easy payment. If you need care, the policy pays you. If you don't need care, the policy pays your beneficiaries. You never have to worry about paying an insurance company and getting nothing in return.

Life insurance with a long-term care rider keeps you in control of your life.

To take the first step, give me a call or send me an email today!

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