New York residents will now be able to use some of their life insurance policy to cover long-term care expenses, according to a press release.
“By passing this law, we no longer burden taxpayers with the long-term care expenses needed by the growing senior population and we’ve given thousands of seniors a creative and costsaving way to cover their care,” said state senator Jeff Klein.
When it comes to investing in a life insurance policy, part of the necessary research includes knowing what the full range of costs and fees will include.
Life insurance is an important financial decision, so make sure you consider all costs before purchasing a policy.
When considering how much life insurance a person should have, it’s important for individuals to consider all of their expenses. A working person contributes more to a household than just a paycheck, reminds Insurance Information Institute senior vice president and chief economist Steven Weisbart.
As people age, the risk of having a stroke is greater, especially for women. It is the third leading cause of death in the United States. The National Stroke Association offers tips and advice to help reduce the risk of having one.