To The Daily Sun,

I read with interest the AP article regarding Sanders’ “Medicare for All” with long-term benefits. This certainly, as the article explains, addresses a significant problem for our citizens, and may be a good option, but politics aside, there might be a better way to help with long-term care or at least make it more affordable for more people. 

Insurance companies could write life insurance policies, maybe taken out by young couples at the time they first become parents and suddenly realize their long-term responsibilities to their present and future offspring, that offer an opportunity to use the death benefit for long-term health care as an alternative to separate policies for this purpose. A modest death benefit amount should be withheld to deal with funeral/burial expenses, of course. 

While young people would not ordinarily be interested in purchasing long-term health care policies, they might be open to having this option, however remote it might seem to them.

Maybe this insurance already exists? Usually when I get what seems like a good idea to me, I find out someone has already implemented it, and if that is the case, it is usually a good thing. And if not, there is usually a good reason for that.

Janet Learned

Gilford

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(1) comment

loveactuary

Hi Janet,

Life insurance companies also realize that this is a good opportunity. Many of them offer an additional benefit, allowing policyholders to use some of their life insurance benefits early to pay for long-term care (or sometimes called chronic illness) needs.

Googling 'life insurance with long term care benefits' will provide some results, as I'm sure your local insurance agent will.

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