Either you pay from acquired personal and family assets or the insurance company can pay out benefits to cover some of the cost of care.


Remember, you have to be healthy, insurance is not a signup sheet.



Hybrid Life Insurance Solutions


Long-Term Care insurance has evolved over the last 30 years. There are now product solutions that provide benefits whether you go on claim, pass away, or decide you want your money back. This type of LTC insurance is an asset in your overall portfolio that will protect your retirement savings.

Traditional LTC


Traditional LTC insurance policies can provide considerable protection from the cost of LTC. There are some PA state tax benefits to consider when looking at this option. Also, you may be able to pay for this product with an eligible HSA account. These types of policies are similar to car insurance. Usually, they have lower premiums than hybrid policies, but it is not an asset, more of an expense. You use it or lose it. Again, very similar to car insurance. You use your car insurance, or you lose it. There is no additional benefit to the premiums you paid other than having coverage for the period of time that you paid the premiums.


Term Insurance, IULs, and Fixed Annuities


We also explore using term, IULs, and fixed annuities to see if they offer something that might benefit you and your family.