Consumers are reluctant to buy Long Term Care policies. They have seen how the industry raised premiums unexpectedly on new and inforce policies. Other folks dislike the “use it or lose it” type of product, where the premiums paid will never be returned unless a claim is made.
If you have decided not purchase a LTC policy, you may want to consider a life insurance policy with a Chronic Illness Rider or Long Term Care Rider. Different riders, but similar goals: providing financial relief to policyholders hit with chronic illness expenses.Read More