The Four Times a LTCI Policy Is Beneficial

[Dale M Krause]

1. Purchase it when you are young and healthy. Purchasing long-term care insurance when you are young and healthy makes it more affordable and more accessible to qualify for.

2. When you purchase the perfect policy. With a traditional policy with a reasonable per diem, a term of benefits, a 90-day elimination period, an inflation rider, a ten-pay feature, and a return of premium benefit, you are making a wise investment. Each of these features will maximize the value of your policy and ensure that you are protected in the best possible way.

3. When your family cannot agree on long-term care decisions. A LTCI policy will ease family tensions and promote harmony. The policy will act as a beacon of clarity in times of indecision and when quick decisions are needed. It will ensure everyone is on the same page about caring for you, alleviating stress, and fostering a supportive environment.

4. When you finally need long-term care, having coverage will provide the financial resources required to pay for the necessary care without depleting your savings or burdening your family.

 

[ltcadviser]

C’mon Dale. A 10 pay traditional LTC policy WITH a Return of Premium rider is your perfect policy?? (Basically you have just described a standard hybrid LTC policy, not a traditional LTC policy) I know you must know that this design you have described is much better priced with an asset-based hybrid life/LTC policy than with a traditional LTC policy. And the asset based hybrid policy will be more flexible for our clients as well if you apply them to an underwriter that offers cash indemnity benefits. No one should design any of the traditional LTC policies with these 2 components today. Just buy the hybrid for much less money.