The New Long Term Care Insurance
Since long term care insurance was conceived, it functioned like health insurance. If you were sick,
you collected from the policy and if you stayed well and never used it, the premiums were gone.
Many people who would have bought this insurance, did not because since they were never going to get sick, they were wasting their money.
The life insurance industry has come up with a solution to this dilemma. The policy is a combination of long term care and life insurance. Assume a policy of $500,000. If you get sick and need care,you have a pool of money that would usually pay up to $10,000 per month till the $500,000 was used up.
If there was never a long term care need, the life insurance would pay the $500,000 as a death benefit.
If $250,000 was used for long term care, then there would still be $250,000 towards life insurance.
On every case I have seen, the death benefit is always greater than the premiums paid.
Let us show you how this type of insurance can work for you.
