Long-term care policies provide life insurance for seniors aged 65 and older who require long-term care services
Long term care life insurance policies provide coverage for a specific period of time. Should an insured individual pass away while the coverage is active, a death benefit is paid out.
Permanent life insurance, on the other hand, is coverage that is not based on a specific period of time and does not expire. Permanent life Insurance plans offer a death benefit, the same as term coverage, but additionally offers savings growth at a guaranteed rate.
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Term Life Insurance:
- Pros: more flexibility, lower premiums, convertible policies,
- death benefits, affordability
- Cons: length of coverage, no savings component
Permanent Life Insurance:
- Pros: coverage does not expire, death benefits, savings component (cash value) which increases over time
- Cons: less flexibility, higher premium, non-convertible
To find out more about how you can apply your life insurance policy towards Victory Personal Care services, consult your current insurer or call us toll free at
1-844-280-9549
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Toll Free: 1-844-280-9549
Private Duty: 713-979-9995
FAX: 713-694-1452