Typical Candidate for SPL for LTC

 

1) 55 and older and worried about LTC costs (everyone fits this category)

 

2) Money sitting in bank or savings accounts

 

2a) Can pay into a policy every year (one policy allows this)

 

3) Can’t afford or don’t want to pay for traditional LTC insurance

 

Benefits of SPL for LTC

 

1) Tax-free LTC benefit

 

2) Liquidity (through return of premium rider or short surrender charge period)

 

3) Joint life coverage (one company offers this)