No. of Recommendations: 0
I bought a dividend paying permanent whole life insurance policy for my wife at 42 years old that accumulates cash value of $650,000 and a larger death penalty when she is 90. That should be enough for long term care for her. I pay $14,900 for six annual instalments and the IRR based on the forecast of dividends is a tax free 4.5% return. If we don't use the cash value for long term care, the estate has a large asset.

Then we bought a second to die permanent dividend paying whole life insurance policy for both of us that has a 20 year monthly premium and we will have $360,000 of cash value when I am 89. The IRR is 2.8% tax free.

We are covered for long term care and have an asset for beneficiaries and dividend income in our nineties.

I cannot recommend LTC insurance as you are relying on a clerical telephone operator to approve your insurance claims.

Whole life insurance is an asset and it is there for you.
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