No. of Recommendations: 0
My DH and I took out term life policies when our kids were 2 just in case.

They just turned 22. Our term policies expired. The price went from $350/6 months to $1800/6 months. We said HECK no!

Our financial planner said that at our age (54) and with our now healthy net worth we don’t need life insurance for the kids anymore. She said we could get a new type of insurance which combines life insurance and long term care insurance in that if you need a nursing home before you die you can get part of the payout ahead of time.

Anyone heard of this? Opinions? Haven’t seen the numbers yet.
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