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.