02 Oct How Life Insurance Can Help Fund Long-Term Care Needs
Life Insurance & Long-Term Care Needs
Planning for long-term care is an important part of your financial future. Many people don’t realize that life insurance can be a valuable resource when it comes to covering long-term care expenses. (Life Insurance Can Help Fund Long-Term Care Needs)
Long-Term Care Riders on Life Insurance:
Some life insurance policies offer long-term care riders that allow you to use a portion of the death benefit to pay for long-term care needs, like home care or nursing home expenses.
Benefits of Using Life Insurance for Long-Term Care:
- Flexibility: Life insurance with a long-term care rider provides more flexibility than traditional long-term care insurance.
- Tax-Free Benefits: Withdrawals used for qualifying long-term care expenses are typically tax-free.
- Guaranteed Death Benefit: If the long-term care rider is unused, the death benefit will still go to your beneficiaries.
Life insurance with long-term care riders can provide peace of mind, ensuring you have financial resources for future healthcare needs without sacrificing your death benefit.
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