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Next to outliving their income, seniors’ greatest fear is the cost of long-term care.  Statistically, 50% will require some form of long-term-care, and the average cost in most parts of the country averages $60,000/year and is on the rise.

They tend to deal with this risk by:

  1. Living below their means
  2. Rolling the Dice and hoping they never have the need
  3. Relying on family
  4. Purchase traditional Long-Term-Care insurance

Choices 2 and 3 are not only bad ideas – they’re not plans at all.  Choice 1 is sad and unnecessary, and choice 4 – long-term-care insurance is both costly, and a use-it-or-lose-it proposition.

There’s a relatively new product out there called a Hybrid long-term-care policy.  It’s a Fifth choice – and a great alternative for many.

Take for example a 65 year old female who repositions $100,000 from a low-yield investment like a CD – into one of the more popular products in this category.

She’ll immediately have a bucket of $450,000 for long term care costs, payable at $6,250/month for 6 years.

If she never needs it for long term care, her estate will receive a $150,000 tax-free death benefit.  And if she changes her mind at any point in the future – she can get a full refund of her full $100,000 without penalty or fees (and perhaps with a bit of interest added).

In other words – she can’t lose – not a single nickel – and her plan won’t cost her a dime.  Not a bad deal.  Reply if you would like to learn more.