Some people over 60 decide to “self-insure” their lives by giving up their life insurance policy. But let’s assume that you still have life insurance. There are ways to use the money in these policies to pay for your long-term care insurance costs.
Insurance traditionally falls into the category of a necessary evil. It is that unseen expense that you just cannot get out of paying; the unseen product; the invisible protector of everything you value. In today’s economic climate, it is tempting to cut corners on monthly outgoings and to trim the edges of financial commitments to make more cash available for the things in life that are more enjoyable. (more…)