You May Not Want To Buy Long-Term Care Insurance From Your Investment Advisor

Investment advisors are licensed to sell securities as well as insurance products. However, investment advisors can only offer insurance products that are approved by the investment firm they work for. There are thirteen different companies that sell traditional long-term care insurance. There are a few companies that sell good hybrid policies. Your investment advisor is probably allowed to sell for only two of these companies, maybe three.

Ask your investment advisor to provide you with quotes from the two or three different companies they use for hybrids and long-term care insurance. Don’t assume that any of those policies are the best choice for you. Your investment advisor is showing you those policies because those are the only policies approved by the investment firm. They may be good policies, but they may not be the best for you.

Excerpted from: “Simple LTC Solution: How to Protect Your Life’s Savings with a Long-Term Care Partnership Program”