Should I Purchase Long Term Care Combined With Life Insurance? 
That is a great question ! The latest statistics I saw showed that roughly 70 % of us will need long term care at some point , so it definitely makes sense to prepare for it . How to do that will depend a lot upon how your retirement planning has been , or is being , done . There are some insurance policies that will combine the two policies , and there are several annuity products that will double or triple your payout , should you need the care . There are some companies that will write stand alone LTC policies . Which is the best choice for you ? That will depend upon a lot of things . Can you afford another policy ? LTC policies are being restructured , and have gotten much more expensive , as time has passed and insurance companies have found them to be much less profitable than originally thought . Congress passed a law that went into effect in 2010 that allows any funds pulled from a retirement vehicle that are earmarked for long term care to be free from income tax requirements , so if you have annuities or retirement funds that can be set aside for this purpose , and still have funds to live on , then maybe not . I 'd advise you to speak with someone that you can trust to look at where you are now financially , and where your retirement plan is , before recommending purchasing a policy of any kind . And be sure that you read the fine print , okay ? Many policies allow the early payment of benefits for LTC , but there are often fees , penalties , and tax consequences that can really make it a questionable if not down right bad , thing to do . Thanks for asking ! 