Does Life Insurance Cover Long-Term Care?

Does Life Insurance Cover Long-Term Care?

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.

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Cost factors to consider when buying life insurance

Cost factors to consider when buying life insurance

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.

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