Life Insurance Tips
Announcing the Best Guarantee in a Long Term Care Policy
The biggest concern about buying a long term care policy is “what if I never need to use it?” This article explains how you can have your cake and eat it too with the best policy guarantee available
Are you between 60 and 70 years old? If not you, maybe a relative? Then you will discover something that will help you prevent the destruction of your fortune.
In truth, this is probably the most important asset you could have. That’s why.
For more than 24 years, I have helped hundreds of people understand and implement money-saving ideas. From birth to death, I have witnessed families in all financial situations.
As my client’s age (and so do I), I can tell you without hesitation that the greatest fear of aging is losing the ability to remain independent.
Maybe we live longer, this does not mean that we live better.
Chronic disease rages … and strikes hard when you least expect it.
How many stroke survivors knew it would happen to them? How many of you waited for the moment when you started forgetting things? The facts speak for themselves. Millions of Americans need long-term care … in nursing homes, kindergartens, nursing homes, or in their own homes.
And the cost of long-term care is rising with no end in sight.
Do you think this will not happen to you? Sorry. Because this article is not trying to convince anyone that they are likely to need help before they die.
It is intended for those who understand and value the importance of protecting themselves against the terrible costs associated with long-term care.
This article is ideal for those who have already studied the traditional types of long-term care policies and are trying to determine which is the best for them.
One of the biggest objections to buying a long-term care policy is that if benefits are never needed, the premiums paid for the policy will go to waste.
It’s a bit like buying car insurance. You must pay a premium to repair your car. But what if you never have an accident? Does this count as a loss of your premium?
Funny, huh? People have little hesitation in paying for car insurance but often refuse to do so for the sake of long-term care policy.
So … what if you could always get your premium back, guaranteed if you never needed long-term care?
What if you die without long-term care? Wouldn’t it be great if your loved ones could cover 100% of your premium expenses?
How about this? You will use all of your long-term care benefits. And then you die. What if your family could pay back 10 percent of your premium?
Now if you know anything about long-term care policy, you’re probably wondering why you haven’t heard of this before.
One reason is that it is unconventional and not included in the conventional marketing of long term care policies.
Another is because it takes a lot of money to buy a policy. $ 50,000 is a typical amount and is a lump sum insurance premium, which means you will never get stuck increasing it.
People in their 60s and 70s often store large sums of money on low-interest bank CDs. Type of emergency fund.
Transferring part of this fund to the policy makes sense because the money continues to earn interest. Plus, you generally pay more than the bank … plus, the interest on the policy is tax-deductible.
People this age also tend to have older life insurance policies with significant cash value.
In many cases, you can roll the money into a long-term care policy and still keep a significant death benefit. And a future long-term care benefit could well be worth more than a million dollars.
This policy has a 90-day waiting period before benefits are paid. The benefits can last from 4 years to your entire life. You can also get 5% compound inflation protection to keep up with rising maintenance costs.
The name of this policy is MoneyGuard. It is a universal life insurance policy for long-term care. Life Insurance Company: Lincoln Life, a subsidiary of Lincoln Financial Group. By the way, this policy was originally developed by First Penn-Pacific Life many years ago. They have many years of experience and an excellent reputation. Lincoln recently purchased First Penn-Pacific.
Ask your life insurance agent for more information on this single premium policy. For the right situation, this is the best guarantee in a long-term care policy.