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. "


Is your financial planner planning a cruise?

If you have real concerns about long-term care - and folks do - taking steps to
provide insurance may be worth the cost to you. This tends to be an individual
situation and while you can put estimates on the cost/benefit - so far the
predictability of the benefits has been less than clear to me.

Read the prospectus and policy closely and try to know under what circumstances
the policy may be revised.

Good luck.
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