the reality is that, as we age, chronic health conditions may develop resulting, for many of us, in the need for some kind of assistance, whether that be care at home, moving to an assisted living facility or going to a nursing home.
Traditional funding solutions include:
Now there is a new, cost-effective strategy:
Hybrid life insurance policies have recently been developed that include a special provision allowing you to access your benefits while living to pay for chronic condition care, should you need it. You either use the policy proceeds your care or they are paid to your beneficiaries upon your death. Think of your premium payments as building an asset. Either way, someone gets the money you have put into the policy…and, most likely, more.