Who Can Get Long Term Care Insurance?

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   James E. Tome

   Anyone can apply to get long term insurance, however there is underwriting involved. Unlike with life insurance, where the insurance companies figures out how long before you die. With LTC insurance, the insurance company figures out how long you will live. Underwriting can be difficult to pass if you have a history of health problems. Many Annuities now come with Long Term Care riders, in the event you need to go into a nursing home, where the account value doubles, or triples. Also a new type of life insurance policy allows an accelerated death benefit, in the event you have a critical illness, or need to go into a nursing home. This policy allows you to take part of your death benefit, while leaving something to your beneficiaries.

   Answered on June 18, 2013

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