Jill on Money with Jill Schlesinger Life Insurance With Long-Term Care Rider
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Jun 9, 2025 Explore the world of life insurance with a long-term care rider and its pros and cons. Hear insights on retirement income strategies from a financial-savvy couple. Delve into the complexities of long-term care insurance and understand the importance of professional advice for better asset protection. Discover potential investment strategies that suit varying financial portfolios, helping you navigate your financial landscape with confidence.
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Retired Couple's Financial Snapshot
- Cheryl and Harry are a retired couple with pensions and substantial savings, including cash, CDs, annuities, and a retirement account.
- They worry about potential long-term care needs and the financial impact of Harry predeceasing Cheryl.
Spousal Dependency Risks
- Harry's health coverage and pension are critical to Cheryl's financial security.
- If Harry passes away, Cheryl loses some health insurance coverage and a significant pension income.
Seek Unbiased Insurance Advice
- Get an unbiased analysis from a fee-based advisor not compensated by insurers before buying long-term care products.
- Avoid purchase until thorough, objective financial and risk analysis is performed.