Life Insurance Policies Add Long-Term Care

There have been some products marketed that were a mixture of life insurance and long term care insurance. The reasoning behind this, or more accurately one of the market objections to long term care insurance, is that if you die there is no death benefit. In fact, if you never need any type of skilled care, you will never receive any benefit from the policy, and the money you have paid in.

Generally speaking these products did not do a very good job of addressing either area. They did not provide the financial strength needed for real care in a skilled facility or even in the home, and they did not give a death benefit that adequately reflected the amount of premiums paid. These products still exists, but generally speaking you are better off buying both, but perhaps in lesser amounts for each.