No. of Recommendations: 1
LTC insurance is more like disability income insurance than like life insurance. With life insurance, you are dead or alive and claim paying is not left up to interpretation of company claims people.

As a concept, I'm afraid of future claims which will be based on yours and my (age 52) actual morbidity. However, the pricing of these policies has been based on past morbidity. That is why some insurers have had to drastically increase premiums because policyholders actually had the temerity to file claims! I don't know and I think the insurers are just making a guess at what claims will be.

It sounds like you are looking at a policy with a life insurance element, such as the one offered by Golden Rule. This makes sense to me, since you won't get out alive and they will pay your beneficiaries something for your "investment" (it is not). In addition, the LTC benefits are limited by the amount of the life insurance death benefit, so the company has a cap on the loss, though you have a limited benefit.
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