Ask Terry Questions retirement and Long Term Care palnning

retirement and Long Term Care palnning

By Terry Savage on July 13, 2024 | Insurance & Annuities

I have a Whole Life insurance policy with a face value of 85,00.00. I allow the interest garnered each year to pay the 1900 dollar yearly premium…At death benefit is currently 124K. I also pay 214.00 a month for a Long Term Care policy that pays 230.00 a day for services when/ if I need them for the first three years. Should I buy into a 80K all in for 4200 a day

Terry Says

I’m not quite sure that I understand the tradeoffs you have offered.  First question is whether you need the insurance — or rather, whether your beneficiary still needs the insurance!  Second question revolves around your age, health, etc.  as well as the details of your current policy.

Instead of trying to guess, I’m going to send you to my trusted LTC expert, Brian Gordon of Gordon Associates — 800-533-6242.  He can evaluate the tradeoffs, based on your personal situation.  And you can trust him completely.

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