I Need to Prepare in Case I Need Long-Term Care:
To meet this need – and if you have a need for long-term life insurance – you may be most interested in products that allow you to purchase long-term care rider at an additional cost.
Long-term care insurance can help pay for home health care or nursing home costs. The insured person must meet certain qualifying conditions and a waiting period before benefits will be paid.
Talk to your insurance professional to learn whether it makes sense for you to get a long-term care rider along with a life insurance policy.
* Since this rider pays out as an acceleration of the death benefit, care should be taken to make sure that your life insurance needs continue to be met even if the rider pays out in full. Keep in mind that there is no guarantee that the the rider will cover the entire amount needed for all long-term care costs as these vary with the needs of each insured.
This rider may have a different name and restrictions in different states.
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