• Long Term Care Insurance – This type of coverage provides insurance in the event an individual may need long term care coverage. With this option, you are provided more flexibility and options than many public assistance programs, such as Medicaid.
• Life Insurance with LTC – A newer form of long-term care insurance is to purchase a life insurance policy with a long-term care policy feature. With this feature, if the insured passes away, a death benefit is paid out just like a normal life insurance policy would do. But if the insured needed long-term care before their death, those specified benefits are paid, taking precedence over life insurance.
• Annuity with LTC – A long-term care annuity is a deferred annuity that includes a long-term care rider. A rider is essentially an add-on you can include when purchasing an annuity that offers extra features or benefits. In this case, you purchase the annuity with the long-term care rider and when you eventually need long-term care, you can begin receiving payments to help with those expenses.

Essential Conversations for Your Future