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Long term care insurance vs. life insurance

By Terry Savage on May 16, 2020 | Insurance & Annuities

Hi Terry- I’m 63 and have enough am deliberating wether or not to buy a paid up LTC policy or not. I have enough assets I believe to self fund the potential for LTC. But there could be some peace of mind to have potential LTC expenses and the burden of them taken care of. Thoughts?

Terry Says

Personally, I have TWO of those policies — one fully paid years ago, and one with an annual premium. The premium can rise, but it has great features and so I keep paying the higher premiums.
It’s great peace of mind to know that I could stay in my home and have full-time care if it comes to that.
I recommend the new combo life/LTC policies — and suggest you work with an expert in the field. I always recommend MAGA LTC at 800-533-6242 in the Chicago suburbs. You can ask for Brian Gordon. Feel free to mention my name, or not, because I get nothing out of this but knowing that you will be well treated by people I trust.



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