The Benefit of Leverage

 for Long Term Care Protection

Retired Couple 2022

Did You know you have options beyond traditional long term care insurance?

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.

Leverage Your Premium Payments

How does this work? It is called a rider that allows you the option to have most of your death benefit advanced, while still alive, to pay for long-term care expenses – protecting your assets for pennies on the dollar. In addition, if you never need chronic illness protection, your beneficiary(s) receive a tax free death benefit.

This ensures you have leveraged your premium payments into some kind of return. We can easily explain your options so you can make an educated decision as to what is best for you and your family.

Solutions 2 Retirement LLC
Solutions 2 Retirement LLC

Make Informed Decisions

Adding protection for these major financial concerns is an emotional decision, but wise decisions should always be guided by math. Discovering which is best for you simply takes some education so you can then decide what is best for you vs. a pressured sales approach.

We are here to help and guide you through this process.