Have you thought about the cost of long-term care and the possibility that you might need it?
The government estimates that 70 percent of seniors will need some form of long-term care assistance before they die. For those unfortunate few who will require the most costly type of long-term care, the tab can be astounding: about $240,000 for the 2.8 year "average" nursing home stay.
What are the chances that I'll need that kind of care?
That depends on you. Your chances of needing long-term care rise if you have a family history of cognitive ailments, such as Alzheimer's or dementia, or strokes. The burden of care lands on your children and their families.
If you are planning for your retirement, plan for your long term care. With Universal Life and Chronic Illness Rider you have both a plan for care and a death benefit if you don't need it. Email me at email@example.com for a quote.