Friday, January 13, 2012

Life Insurance with a Long Term Care Benefit Rider

One of the things people hate about purchasing Long Term Care Insurance (Insurance to pay for Nursing Homes and Home Health Care) is that if they don't use it, they paid in all that money and got nothing out of it. And believe me, Long Term Care Insurance is EXPENSIVE!

One alternative that exists is Life Insurance with a Long Term Care benefit rider.
Going with this type of policy can save you a bundle of money and potentially give you even better Long Term Care benefits.

Let's say you purchased a Life Insurance with Long Term Care benefit policy with a benefit amount of $300,000. This means that if you end up having to receive home health care or go to a nursing home, you have up to $300,000 to pay for those services. If you never end up needing those types of services, your family will receive $300,000 TAX FREE when you pass away.

This option can be a much better value than purchasing separate Long Term Care and Life Insurance Policies.

Another awesome benefit is that the RATES ARE GUARANTEED to never change, unlike traditional Long Term Care policies that are subject to rate increases.