Life Insurance and Long-Term Care
Can life insurance cover long-term care?
Some life insurance policies include long-term care (LTC) riders or living benefits that can be used for long-term care expenses. These hybrid policies provide a death benefit if you don't need long-term care, and an LTC benefit if you do. An independent agent can help you evaluate hybrid life/LTC policies.
Key Points
- Hybrid life/LTC policies: provide death benefit or LTC benefit
- LTC rider: accelerates death benefit for long-term care expenses
- Living benefits: access death benefit for chronic illness, critical illness, or terminal illness
- Standalone LTC insurance: also available
- An independent agent can help you evaluate hybrid life/LTC policies