New way to get Long Term Care protection…(might not seem like you’re wasting money.)

So… let’s talk about a NEW way to get Long Term Care Protection.

What the biggest problem people have with Long Term Care Insurance?

  • “It’s too expensive”
  • “If I never use it I wasted all that money on premiums”
  • “If it happens to me just take me out back and shoot me.”
  • “My kids will take care of me.”
  • “It won’t happen to me.”

(Yes, I have actually heard all of these things from people)

In the past, some people bought Long Term Care policies because they wanted to protect their assets and not be a burden on the kids.

So you buy a Long Term Care Policy with $250,000 of total coverage.

  • Your premiums could go up.
  • It’s Use it or Lose it. Meaning if you pay your premiums each year for 20 years and you are lucky enough to die in your sleep… Does your family get any money?

No.

The new way solves some of those problems. It combines life insurance with long term care coverage.

You get to use it while you’re alive… if you need to.

Or…if you don’t need it, then a bunch of money passes onto the kids or grandkids.

Let’s say you buy a $250,000 worth of coverage.

  • The premium is fixed.
  • Someone will collect. Either you or your family. It’s just a matter of are you alive or dead.

You can get 2% of the death benefit each month (tax-free) for Long Term Care if you need it. That would be $5,000 a month for up to 4 years in our example.

Whatever portion you don’t use for LTC is paid out as a tax free Death Benefit to your family.

So if you happen to die happy in your sleep and you never need LTC, your family gets $250,000 instead of $0.(ZERO)

This solution could work for most people. You might want to apply just to see if you qualify. You don’t have to keep it, but you can apply just to see.

For a sample policy CLICK HERE pdf. LTC and LIFE example 62 year old male

I used a 62 year old male in standard health for the sample policy.

  • It would provide up to $5,500 a month for 4 years in LTC coverage
  • If he dies without needing LTC the family gets $275,000 tax free.
  • The premiums would be $5,000 per year

So it’s a fairly common situation. You have probably seen with people you know.

You work for 40 years. You save all this money. Then you get sick and you have to spend it all down and the kids get nothing

Here’s a way to protect yourself and your family.

If you want to chat or ask questions about this, just click on my calendar and you can schedule a time to ask me whatever you want.

Schedule A Time To Chat

 

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