Long-term care insurance protects one’s resources. In addition, purchasing a long-term care policy preserves one’s choices. But long-term care insurance can be pricey; are there less expensive options? Yes. There are a couple of options with a provision for long-term care coverage—life insurance and annuities.
Term insurance definitely has its place in life planning—and what will eventually occur at the end of that life—but it is not for everyone. Though term life insurance is the lowest cost life insurance available today, there are only a few scenarios in which it may be a good buy for you. Here is the way it works.