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Life Insurance Is Not For You But For The People You Love
Your life insurance gives your family choices by providing the benefits to help pay off debts, to help meet housing payments and ongoing living expenses, to help fund college educations for your children or grandchildren, and much, much more. Life insurance provides cash when it's needed most and provides comfort, when comfort is the only thing you're looking for.
Types of Life Insurance
Term
The oldest form of LTC, and often referred to as "if you don't use it, you lose it" policy. Typically funded through continuous systematic premiums to fund a much higher balance that can be utililized for qualified LTC expenses, if 2 of 6 'assisted daily living' criteria is met.
Whole Life
The oldest form of LTC, and often referred to as "if you don't use it, you lose it" policy. Typically funded through continuous systematic premiums to fund a much higher balance that can be utililized for qualified LTC expenses, if 2 of 6 'assisted daily living' criteria is met.
Universal Life
The most popular type of LTC, typically funded through an asset such as an annuity, life insurance or cash. The "asset based" aspect combats the concern that "if you don't use it, you lose it" concern. With these policies, you control the asset.
Guaranteed Life
A life insurance policy with an attached rider which covers LTC expenses. This type of policy is more life insurance directed but can provide substantial benefits towards a potential LTC need. Most commonly funded through continuous premiums.