Long Term Care Insurance is worth the cost when you consider the cost of paying for nursing home or other extended care coverage. If you can pay $1.000 per year to pay for long term care costs of $100,000 per year, the cost is not out of line, especially if you can get a policy with return of premiums if the policy is not used.
Principal, LifeNet Insurance Solutions, Redmond, WA
I was asked the same question by a client with a $7,000 annual premium for both spouses. If your not sure, you probably need it! After all, someone asking may not be able to afford the average cost of $70,000+ per year to cover one person.
Having said that, it may be advantageous to look at the new riders on both term and permanent coverage that allow for using the death benefit to pay for LTC under certain circumstances.
Principal, LifeNet Insurance Solutions, Redmond, WA
I was asked the same question by a client whose annual premium for both spouses was $7,000. If you're not sure, then you probably need it! After all, someone asking may not be able to afford the average cost of $70,000+ per year to cover one person.
Having said that, it may be advantageous to look at the new riders on both term and permanent coverage that allow for using the death benefit to pay for LTC under certain circumstances.
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Having said that, it may be advantageous to look at the new riders on both term and permanent coverage that allow for using the death benefit to pay for LTC under certain circumstances.
Having said that, it may be advantageous to look at the new riders on both term and permanent coverage that allow for using the death benefit to pay for LTC under certain circumstances.