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Interesting response, Brewer. Would that be backed by looking at real numbers?
Hancock, Hartford, Nationwide, and I believe Genworth offer LTC riders on their permanent life policies. All advance a portion of the death benefit if you qualify for LTC. This usually means loss of two of six activities of daily living, or cognitive loss. I have found that these riders are usually a good deal less expensive than a stand-alone LTC policy. Because of how the riders pay, Nationwide's policy will work in an irrevocable trust. The other companies do not recommended that their policies be owned outside your estate.
The cost of chronic care is a potentially large post-retirement medical cost. Using this type of policy helps you transfer some or all this risk to an insurance company in the life insurance you use for a legacy to your family. It's there if you need and you haven't "lost" all the premiums for an LTC policy if you don't.
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