LTC insurance -combo life

Terry Says

There are several parts to your question and I sent them along to Brian Gordon of MAGA LTC,  (800-533-6242) -- the experts on this topic.  Feel free to call him directly for more details.  The easiest way to respond is just to paste his response to each of your questions: ********* To secure a combo life /LTC policy, what type of health underwriting is required to secure the life insurance?  Depending on the carrier they will all typically do a phone interview, cognitive screen, some will pull medical records and do para-med exams.  Typically the Life and LTC carriers can be a little more liberal, but time will tell if it will remain that way. What is the expected ROI on the cash value of the life insurance? These products are not designed to make you rich they are designed from keeping you from becoming poor.  Typically we would not be looking at a policy that emphasizes covering the Life and LTC risk under one policy and most people we speak with are really trying  to get the best LTC leverage with a guaranteed premium.  If  a person should need additional life insurance for estate tax or to create family protection the true combination plans would not be the planning tool you would need.  There are many Life policies that will allow you to add the Critical Illness or Chronic Illness riders to the plan, they are not the same type of protection that the Life with LTC riders offers. Can you select investment vehicles? There are no investment selections with the current interest Whole Life Insurance policy. ***********