life and long term care insurance Archives

Life insurance often considered long term care coverage alternative in Maine

April 26, 2013May 1, 2013 H. Cutner

Elderly selling their life insurance to get pay out

A new bill in the state could offer consumers a more affordable form of LTC coverage. Seniors living in Maine and who are reliant on the MaineCare program, which is currently strained for cash, may find that a new opportunity is opening up to help them to obtain long term care coverage – which is traditionally quite expensive – through life insurance policies, should lawmakers decide to pass a new bill. This bill does have a notable amount of support already and is currently under debate in the Legislature. The…

Younger consumers are buying – and benefitting from – long term care coverage

April 28, 2012May 26, 2012 Julie Campbell

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…