In the event that the insured's bad
health compels him or her to stay at a nursing home or receive home care,
this rider offers monthly payments
In the event that poor health on the part of the insured compels
him/her to stay in a nursing home or receive home care, this rider offers
monthly payments. Although long-term care insurance can be bought
individually, insurance companies also offer riders that take care of your
long term care costs. This can be added as a cash value to your life
insurance or to an annuity contract to provide coverage for long term care
that would otherwise not be covered in the primary contract. Also, this
rider is usually no- or low-cost, due to the fact that the insurer is simply
paying out the life policy's proceeds before death, versus actually
increasing the specified amount.
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