The Benefit of Leverage

No one is ever excited about the thought of needing long-term care because the financial responsibility can be overwhelming with the thoughts of what our lifestyle might become. For this reason, we work with our clients to find the best fit for them. Many are shying away from traditional long-term care insurance because if you never need it, you have paid thousands of dollars for no return other than – you were protected. When you combine that with the fact that you can expect hefty premium increases as you get older, it can become too expensive to continue funding the policy during your latter retirement years – which is when you are at risk of needing it the most.

Statistics show there is a better than 50% chance that long-term care will be needed, so we carefully analyze a couple of variations of protection for you.

When structured properly, your premium payments are guaranteed to never increase. First, there are hybrid products that are a combination of life insurance and long-term care, which assure you get at least a portion or all of your premium payments should you die never needing a long-term care protection.

The second option is a more traditional life insurance policy that also offers a living benefit, such as a chronic illness rider. What makes this cost-effective is in a well-designed policy, you do not pay for this portion of the coverage unless you need it.  They simply use a discounting method at the time of need so that you only pay for it if you need it.  And even better than the hybrid products, you are also guaranteed your beneficiary(s) will get much more than you put into the policy as a death benefit.

We are about leverage. The goal is to take the least amount of your money out of your pocket to leverage it into a much greater benefit so your assets are not depleted, leaving them for your spouse or beneficiary(s) even when you need long-term care.

Click here for more information on How Hybrid Life Insurance Pays for Long-Term Care.