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I have a universal life policy for $150,000. I am 55, female, married. I want to purchase long term care insurance. How could I use my policy to purchase long term care insurance and is that a good idea? My husband does not need the life insurance money.

Kerry Morris, CFP® Level 6

Hi C, I agree with the group and strongly urge you to look at the asset based type solutions. Translation - Life or annuity chassis products that give you a death benefit in case you never need to pay out of pocket for care, ...(more)

26 mins ago

Daniel "Danny" Chen Level 19

Mark and Michael have made some very good points on this issue. These areas of financial planning can get complicated. Consider the purchase of a LTC policy that would offset the risk if needed, and if you never need it, ...(more)

42 mins ago

Starting financial planning at a late stage of career life - 401(k) & IRA?

Salvatore Favarolo Level 8

Here is a good 401(K) Savings Calculator you can use to see how your 401(k) can grow and the projected balance at retirement. Simple to use. Hope it helps. Sal. http://www.lanternwa.com/pages/calc.aspx?spid=119422&calcname=Retire401k

52 mins ago

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