Life Insurance companies are getting more creative in the products they offer. One example is a life insurance product that offers a long term care rider. If you purchase this type of policy and rider, then if you need long term care the death benefit is available during your life to pay for long term care. You are literaly buying one policy that covers two contingencies.
Another new product is a policy that gives you a break in rates even if you are a smoker. But the rate lasts only three years. If you don't cease smoking by the third year, your life insurance premiums jump.
Also, don't forget that the estate tax rates go to zero next year, but jump back to the old rates the following year. It is time to visit your estate planning professional and life insurance agent to start examining your options.
Friday, November 06, 2009
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