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I think long term care insurance is most useful to those who want to protect assets of the surviving spouse when one enters a nursing home. But we do hear the insurance companies issuing the policies have underpriced them and are now raising prices to try to catch up. Hence, expect premiums to continue to rise. And some may become unaffordable.

Some life insurance policies get paid up over time. If you reinvest the dividends they are tax free and you continue to build more life insurance value. Once paid up, these policies are relatively painless. Of course, a clever investor might do better cashing them in and investing the proceeds.

One common policy type is the veterans insurance all of us got in the military. It is possible to carry on the policy after you leave the service. And some speak highly of the paid up benefit.
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