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.