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Home›Saving and Spending›Paying for Long-Term Care Can Be Difficult: Here Are 6 Ways to Do It

Paying for Long-Term Care Can Be Difficult: Here Are 6 Ways to Do It

By Our Editorial Team  |  Published June 21, 2023

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Paying For Long-Term-Care
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Combined life insurance with long-term care benefits

One option seniors use is a combined life insurance policy with long-term care benefits, also known as a “rider.”

Not only are there similar features available, like inflation protection and various elimination periods to choose from, but if you pass away prematurely, your beneficiaries obtain a tax-free death benefit.

The most significant difference you should be aware of when paying for long-term care options is whether or not the policy contains either a chronic illness or long-term care rider. A competent financial adviser in long-term care will know the difference between both.

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