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Care expenses can be met with life insurancePosted On Fri, July 30, 2010
It's become a well-observed fact that health care costs are rising without any indication of relief in the near future. As people begin to enter their older years, they may wonder if they will have enough money to live comfortably, let alone cover expenses if they need to enter a long-term care facility.
For people with such financial woes, life insurance may provide the assistance and security they need.
Life insurance agent J. Brendan Ryan wrote in an article for the Cincinnati Enquirer about the potential money a life insurance policy may offer.
In his example, Ryan said that a healthy 60-year-old woman may qualify for a $200,000 death benefit by paying $2,700 a year. With a rider she could be able to withdraw $2,000 a month for 100 months by paying just an additional $150 a month. The unused portion of money used could be given to beneficiaries as a tax-free death benefit, he wrote.
This is just one example of how a life insurance policy can provide a person and their loved ones with extra financial support.
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