You Can Cover Long Term Care with 'Combo' Products
Terry Savage discusses asset-based Long Term Care insurance in this article. While supporting the need for long term care insurance, Savage acknowledges that the product may seem too pricey for some consumers. This article discusses Combination long term care insurance/life insurance products in this article. These products are gaining popularity for many reasons.
These fast-growing products are based on either a life insurance policy or an annuity, which allow your money to grow tax-deferred. This pool of money inside the insurance contract can be used to pay for long term care if it is needed. But if you don’t use some or all of the money for that purpose, it remains an asset that can be left to your heirs.
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