Life Insurance with Long Term Care is one of the perks of having GREAT life insurance coverage.
What’s that you ask?
Well, you may be entitled to living benefits if you’re diagnosed with a terminal illness! Furthermore, you may also be allowed to pull out cash while living with a chronic illness!
YEP. You heard me right. Looking pretty good right?
Long Term Care is a common addition to many life insurance policies.
…BUT you should make sure that these benefits are specifically included in your life insurance policy! If they aren’t you may be able to incorporate them as a rider after the fact because without a doubt they provide a fantastic safety net.
Why Would You Buy Life Insurance with Long Term Care?
Most people believe that Term life insurance only pays out when you die. That’s all well and good, but what if you develop a serious and lengthy illness that precedes your death? It could really throw you for a loop.
I know – nobody wants to dwell on what would happen if you get terminal cancer, ALS or some other disease…
…but it happens.