Insurance for Long Term Care
Traditional long term care insurance policies usually function much like car insurance - they require you to pay premiums, but do not accumulate any value. And you can't get any of the money you paid back, even if you never use any of the policy's benefits.
We therefore recommend a different kind of product to our clients: MoneyGuard® From Lincoln National Life. This is a universal life insurance policy with a long term care rider. It accumulates value that you can tap into in the event that you require long term care. If, however, you end up not needing that kind of care, it also provides a death benefit to your heirs. In addition, the total cost of your LTC is known at the time you purchase the policy, not after your death.
* The policy is subject to substantial fees and charges. Investment portfolios are subject to market risk. Death benefit guarantees are subject to the claims-paying ability of the issuing life insurance company. Loans will reduce the policy's death benefit and cash surrender value, and have tax consequences if the policy lapses.