Life Insurance or Long Term Care Insurance?


This is a question that many people today are asking themselves. As people live longer and their ability to add to their resources decreases, they are looking for answers.

In the insurance industry I have talked with many people that believe they will stay as healthy as they have been for the past 20 years. The truth of the matter is, as we age health problems become more prominent. A wise elderly lady once told me “Old age is not the Golden Years it is the Rusty Years.” If you are in your 50’s and not taking medication for high blood pressure or cholesterol or other age-related issues you are either lucky or have not seen a doctor in some time.

So, when you are still relatively young and healthy, should you buy life insurance for a particular concern such as a mortgage? Yes, you should. Life insurance protects your loved one’s financial future.

But what if you could not perform two of the “Activities of Daily Living”, which are the criteria of all long-term-care policies. Are you presuming your family would take care of you if you needed it?

Yes, they probably would. However, I believe the family would want to make sure you are properly cared for, rather than hope they can take care of you. Or would you use your assets and the family’s assets to have someone properly trained to care for you. There is only one type of insurance that gives you that protection; Long-Term-Care.

Many Long-Term-Care plans today combine a death benefit and offer cash liquidity options. You could say, it is the best of both plans. The key is to purchase the policy before you need it.

For more information on the differences between Life Insurance and Long Term Care or to discuss what would be the best option for you, call us today or click on the calendar below to book a FREE No Obligation consultation.

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