Comments on: Repurpose your life insurance to pay for long-term care https://intentionalretirement.com/2013/07/life-insurance-with-a-long-term-care-rider/ Life is short. Be intentional. Tue, 17 Jul 2018 05:25:11 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Thomas Rockford https://intentionalretirement.com/2013/07/life-insurance-with-a-long-term-care-rider/#comment-193 Fri, 31 Jan 2014 03:03:01 +0000 http://intentionalretirement.com/?p=2679#comment-193 As someone who sells LTC insurance as part of my financial advisory practice, there are plenty of pros and cons. The only thing I can work with are statistics and here is what I recommend. First off the product whether you buy long term care or a hybrid is not cheap. Then again, the cost of long term care services is not cheap.

]]> By: Joe Hearn https://intentionalretirement.com/2013/07/life-insurance-with-a-long-term-care-rider/#comment-192 Mon, 08 Jul 2013 21:15:22 +0000 http://intentionalretirement.com/?p=2679#comment-192 In reply to Jason.

Hi Jason. There is underwriting and since it’s a life insurance policy with a long-term care rider, the underwriter is looking at both mortality and morbidity. And yes, you can use a 1035 to avoid the tax issues. Hope that helps.

]]> By: Jason https://intentionalretirement.com/2013/07/life-insurance-with-a-long-term-care-rider/#comment-191 Sat, 06 Jul 2013 17:45:33 +0000 http://intentionalretirement.com/?p=2679#comment-191 What type of underwriting is involved in a policy like this? I assume it’s different than a normal policy. Also, can you 1035 the cash value from a whole life policy to this new multipurpose policy to avoid taxes or surrenders?

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