Long term care insurance premiums have continued to increase at a high rate industry wide. Many Insurance companies have removed this product all together. An option to deter these increases is to purchase a life insurance policy with a long term care rider. This will lock in your rates for the duration of the policy…. 10, 15, 20 years. Qualifying for a long term claim is the same as a standard long term care policy. No being able to perform 2 out of the the 6 daily activities. If this happens, then you will be able to access up to 90 percent of the death benefit (with most companies) for long term care needs.
Life Insurance with a Long Term Care Rider was last modified: January 2nd, 2024 by