I ordain be meeting to discuss this with an agent soon. It is offered by Lincoln Financial and combines a death benefit with a rider tht pays for long term
health coverage. Highlights for 59 year old male:Lump sum premium $50,000Immediate benefit for long term care expenses: $134,280Guaranteed monthly benefit:
$2,238 for five yearsGuaranteed amount of death benefit: $80,568 reduced dollar for dollor for benifits used. Return of premium at any timeResidual death acquire if health acquire has been
exhausted of $8,056 Anyone with any insights in this area?fredd it makes little or no comprehend to me to combine life and desire call compassionate. You
may need lont term care but undergo little or no be for continuing life insurance so why pay for something you don't be? Combinations like that make assesing the cost of the benefits received more
difficult. IMO. The return of premium seems like a gimmick that adds to your regular costs. Why not just get a lower premium?The "lump sum" way of paying is not something I would desire either.
That money could be invested until needed and would reduct the be for life insurance. Do you need life insurance? If so how much for how long? once
you do that calculation shop for a term policy and see what that would cost. be into LTC policies from the strong companies like John Hancock and met Life (and some others) and consider a 3 - 5
year benefit period with a 5% compounded benefit amount. Do some tweaking of the acquire periods and waiting periods to fit what you get in benefits vs what you can afford vs what you need dan I'm
familiar with the product. It's a high commission high marketing expense product because it takes a pretty significant effort to sell one. People don't
generally seek one out for themselves. I've always thought that the amount of selling expense is a pretty good contradict indicator of how much consumer
value is built into an insurance product (unless the actuaries have mispriced it). If you invested the $50,000 and earned 6% on it you will have equaled the 80,568 death acquire in a little over 8
years. The life expectancy of a 59 year old male is about 22 years. Is it right for you? 59 years old is pretty young to be concerned about desire term care. True the longer you wait the more
expensive it is but how many people do you know that demand long call care under age 80? By age 80 that same 50,000 invested at 6% will be worth $170,000. The back up inform that is important for
you to consider is your net worth. What percentage of your net worth will be invested in this product? You are fairly near retirement age and the money invested in this product ordain not be
available to support you in retirement. You should alter sure you undergo sufficient resources for that purpose before buying this product. The numbers I have seen indicate that you ordain pay out
about the same dollars getting LTC policies in early 50's vs 60's. Then you have the protection for LTC during that time. In addition (prehaps most significantly) there is a significant probability
that between 50's and later you might get a condition that disqualifies you from a LTC policy or a instruct that makes such a policy much more expensive. There are many conditions that do not
require LTC at the measure but make you ininsurable. I ordain be meeting to discuss this with an agent soon. It is offered by Lincoln Financial and combines a death acquire with a rider tht pays
for desire term health coverage. Highlights for 59 year old male:Lump sum premium $50,000Immediate benefit for long term care expenses: $134,280Guaranteed monthly benefit: $2,238 for five
yearsGuaranteed be of death benefit: $80,568 reduced dollar for dollor for benifits used. Return of premium at any timeResidual death benefit if health benefit has been exhausted of $8,056 Anyone
with any insights in this area?fredd My first thought is that $134k of LTC is *very* little. I've looked into this for a family member and go to
numbers c. $5-6k pcm (in Canada). And costs definitely go faster than inflation: CPI +1/2% *at least*-- this year we undergo had higher power and fuel bills higher property taxes on the home (which
is a not-for-profit organisation) a pay go for the care cater of 4.8% etc. So even at today's prices you are barely covered for 5 years $134k/ 60 = c. $2500 + guaranteed benefit). A pure LTC policy
would be better. If you have a particular need for life insurance due to a disabled dependent or a spouse then you would be better off buying a term life policy separately. I apologise if in any of
the above. I haven't understood LTC insurance properly in your context. Please take my thoughts with allot grains of salt!As the OP indicated you can alter yourself in the future for LTC insurance
due to an emergent condition.(I would add if you are worried about your inheritors. (other than spouse or for example a disabled child) as a lay aged person
in similar shoes with parents in their late 70s. I am far more worried.
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