Need Advice: Mom and Whole Life

[expatpumpkin]

Paid up life insurance with a long term care component might actually be an excellent product for your mom. Or not. Sorry, there's just not enough details here for me to tell you one way or the other. I suggest you ask to see the product brochure as well as a specimen contract and see what she's actually being offered. Just because it's a commission-based product does not make it inherently wrong.

[Deleted]

Sept 21, 2014 15:01:55 GMT -5 expatpumpkin said:

Paid up life insurance with a long term care component might actually be an excellent product for your mom. Or not. Sorry, there's just not enough details here for me to tell you one way or the other. I suggest you ask to see the product brochure as well as a specimen contract and see what she's actually being offered. Just because it's a commission-based product does not make it inherently wrong.

Yes. More and more companies are moving away from offering standalone LTC insurance and are raising prices on existing policies by 40 or 50%. A hybrid life/LTC policy can be a good idea, especially if it's paid up or single premium, as they won't be able to increase the annual premiums by an exorbitant rate. It's also a "use it or use it" policy- either the beneficiaries will get the death benefit or your mom will use it for LTC. But there's not enough info in the OP to make an informed decision.