Term life insurance?
Terry, on today’s John Williams show you discussed getting term life insurance in case you need it. I think it’s called by a different name but my question is I have an older friend that suffered a stroke and he makes $1200 a month in disability, should he acquire any insurance or should his family buy any insurance in case his condition worsens? Thank you for any information!
Terry Says
No, I did not discuss TERM life insurance. But I did mention Long Term Care Insurance. That’s a product that must be purchased BEFORE you become ill. Once his health is compromised, it’s too late to buy insurance.
Now, how about YOU? Who would pay for your care — not the healthcare that comes from Medicare and your supplements — but long term CUSTODIAL care in a nursing home? If you use up all your assets, you’ll be placed in a state-funded Medicaid nursing home, likely not your best choice!
If you are in good health, I strongly suggest you consider Long Term CAre Insurance. Read this:
https://www.terrysavage.com/long-term-care-insurance-a-creative-way-to-pay/
