A. Fewer and fewer Americans are buying long term care insurance because of runaway premium costs. However, it's important for seniors to have a long term care coverage that could help cover costs associated with nursing homes and other late-in-life expenses.
The new approach - combine long-term care coverage with life insurance or annuities. Such policies pay out if long-term care is needed; if it is not required, they will pay a death benefit or an annuity payout. In either case, the policyholders get something for the money they spend on premiums during the life of the policy.
Please contact us if you are interested in such combined life insurance and long term care policies.