Principal Advisor, Brokerage Consulting, Flemington NJ
Actually, Nationwide has a very good hybrid policy that combines permanent life insurance and a comprehensive long term care rider. I use this product alot in my practice for people that have a need for both life insurance and LTC.
Advantages of this product is that the benefit will always be used no matter what happens to the individual; either they will have a long term care claim, or they will pass away and the death benefit will pass to their beneficiaries.
Disadvantages of this approach to LTC planning is that there is no potential for any premium write-off and no Partnership protection.
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Advantages of this product is that the benefit will always be used no matter what happens to the individual; either they will have a long term care claim, or they will pass away and the death benefit will pass to their beneficiaries.
Disadvantages of this approach to LTC planning is that there is no potential for any premium write-off and no Partnership protection.