Long term care has been on the new horizon of insurance products for more than 25 years. We have seen many companies introduce and sell policies for extended periods of time. Most of the insurance companies who used to sell long term care do not sell it anymore. The policies they have sold are still providing benefits. However, since the premium rates were usually not guaranteed most of the older issued policies have had premium rate increases. The turbulence in the ability to offer LTC coverage does not change the fact that the risk of loss remains significant for many. Medical technology has increased the exposure to the time periods when an insurance company would be required to pay claims.  I say this because people are living longer with more conditions that would trigger a benefit. The usual benefit trigger is a loss of 2 activities of daily living OR cognitive impairment.

There are traditional long term care policies available today.  Also, hybrid products that combine long term care benefits with either a life insurance or annuity benefit.

For many couples, the biggest risk to a well-crafted retirement plan is an extended long term care need that could occur. We can show you a shared care benefit pool that can bolster the strength of your retirement plan.