Long-Term Care Insurance vs. Life Insurance with a Long-Term Care Rider
Published: Fri, 05/04/18
Long-Term Care Insurance vs. Life Insurance with a Long-Term Care RiderIf you cannot view the image below, please read the article on our blog. Q. My mother was in a nursing home for about two years prior to her death, and it cost the family most of her savings. I don't want the same to happen to me and my husband. Therefore, we are trying to make the decision of buying either long-term care insurance or life insurance with a long-term care rider to pay for long-term care. I know that you are both and Elder Law Attorney and that you offer specialized financial services. Do you have a recommendation or a list of factors that we should consider in making our decision?
--- Dear Angel, I have a Health Savings Account through my work. Can I withdraw money tax-free from my health savings account to pay my long-term-care insurance premiums? If I can, is there a limit to the amount I can use? Does it have to be for a stand-alone long-term-care policy, or can it be for a life insurance policy with long-term-care benefits, too? Thanks! Elle Teesee --- Article Reprint Policy This article may not be reprinted in whole or in part without explicit written permission from Farr Law Firm, A Professional Corporation. |
Upcoming Seminars Do you worry about your loved one winding up in a nursing home and running out of money? We have the solutions you need! Come learn about them at:  our Living Trust Plus Seminar in Fairfax, with speaker Evan H. Farr, Certified Elder Law Attorney on May 12 or June 23 from 10am-12pm.  ----------
|
||
|
This email was sent to
.
|
