How do I determine if long-term care insurance or life insurance is better for my family?

Life Insurance, Long-Term Care Insurance
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July 2017
80% of people found this answer helpful

Hello,

Great question!  Life insurance is a tool that leaves a lump sum of money to your family when you pass away.  Long Term Care insurance is used to help pay for long term nursing care.  Both can help your family should something happen to you.  Typically people will purchase life insurance first, and then addingn long term insurance later.  A good way to determine which you should buy first and how much you need is to have the analysis done in a financial plan that is not product driven, thus it is objective and will educate you on your options.

Best Regards,

Derek

March 2017
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