Ask Terry Questions LTC Insurance Denied

LTC Insurance Denied

By Terry Savage on January 09, 2015 | Insurance & Annuities

My husband and I recently applied for LTC Insurance. He was denied for medial reasons. Would we be wise to put the premiums we would have paid into an annuity for “just in case”? I am taking the LTC insurance for myself. Thank You.

Terry Says:  I’m glad you are getting it for yourself.  An annuity is not necessarily the best answer.  It could restrict your withdrawals at a time when you need more cash — especially if you need to take money out during the surrender period.   Have you considered a combined Life/LTC policy for your husband?   Check with Peter Florek at MAGA LTC — 800-533-6242.  He’s an expert at that kind of policy — where you deposit cash now, and your deposit is leveraged to pay for either LTC if you need it, or a death benefit if you don’t use the LTC.



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