Woman buy 60% of the life insurance plus long-term care insurance policies, according to research by the American Association for Long-Term Care Insurance. 34% of the woman were between 55 to 64, and 40% were between ages 65 to 74.
North American has the best deal for life plus chronic illness benefit. It’s a universal life policy that can accelerate out 24% a year in cash for chronic illness. End up not needing long term care? Your beneficiaries get the full policy face amount or whatever you haven’t accelerated out for long term care. Also North American policy face amounts start at $25,000 of coverage, so premiums can fit any budget.
For larger face amounts there are single premium policies with Genworth and Lincoln National that offer many advantages such as return of premium. There are also annuities that offer long term care riders which extend long term care coverage 2 or 3 times higher than the face amount.