Combo life insurance policies are becoming more popular every year. There are some great benefits you can take advantage of with combo life policies, especially if you’re looking to combine it with long term care (LTC) coverage. It’s worth considering and here’s why.
More affordable long term care coverage. A life insurance policy with a long term care rider is the perfect solution for those who find stand-alone LTC polices too expensive.
More people can qualify. Underwriting standards are a little more relaxed on a combo policy, which means more people with health conditions can qualify. You’ll need to do some comparison shopping as some insurers may put a limit on age.
Double coverage, one policy. You get the best of both – death benefits for your beneficiary and LTC (should you need it). Terms and conditions apply so read the fine print carefully.
More control. You can set a fixed amount or percentage of the policy for long term care, and leave the rest for death benefits.
You get coverage for life. And of course, because it’s a whole life insurance policy, your policy will remain in effect until the policyholder dies, as long as premiums are paid.
Tax Benefit. The cash value that builds up on your combo life insurance policy is entirely tax-free and so are the death benefits your beneficiary will receive.
Remember to check the financial stability of a company and the terms and exclusions listed in the policy – before you purchase. Why not ask for a free quote now to see how affordable a combo life insurance policy can actually be for you?
VALUE is what we’re about here at AccuQuote. We’ve been committed to helping our clients obtain superior products at the best price for over three decades. If you’re interested in finding out more about combo life policies, simply on the home page of our website and go to “Products & Services” for more information.
If you have any other questions or if you’d like more information on long term disability insurance, talk to us. We represent the top-rated Long term Care Insurance companies that you know and trust.