Long Term Care Insurance with Lifetime Benefits and Return of Premium for a Couple
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Long Term Care Insurance with Lifetime Benefits and Return of Premium for a Couple
By Aaron Skloff, AIF, CFA, MBA
Long Term Care (LTC) Insurance policies with Return of Premium provide long term care benefits if you need long term care or a return of premium if you die without needing long term care; or both. They provide the highest level of LTC benefits for the lowest premiums and can be designed to meet Long Term Care Partnership Program requirements to protect your assets away from Medicaid.
Let’s look at an example of a 55 year old tobacco free female and a 55 year old tobacco free male. With a combined guaranteed $100,947 one time premium, they gain a $190 daily tax free long term care benefit each they can use separately or simultaneously for each person’s entire lifetime.
