NY Life Insurance with a Long-Term Care Rider
NY Life Insurance with a Long-Term Care Rider
What if your life insurance could also help cover the cost of long-term care?
With the rising cost of assisted living, nursing homes, and in-home care, more people are turning to **life insurance policies with long-term care (LTC) riders** as a way to protect both their family and their financial future.
—
### đź’ˇ What Is a Long-Term Care Rider?
A **long-term care rider** is an optional benefit that can be added to certain life insurance policies. It allows you to **access part of your death benefit early** to pay for long-term care expenses, such as:
* In-home care
* Assisted living
* Nursing home services
* Adult day care
Instead of letting your policy sit unused while facing unexpected health costs, this rider helps your coverage **work for you while you’re still alive.**
—
### âś… Key Benefits of Life Insurance with an LTC Rider
#### 1. **Dual Protection**
* Provides a death benefit to your beneficiaries
* Also helps cover your long-term care costs if you need them
#### 2. **Tax-Advantaged Access**
* Accelerated benefits are typically **tax-free** if used for qualifying LTC expenses
#### 3. **Preserve Your Retirement Savings**
* Avoid depleting your 401(k), IRA, or investment accounts on care
#### 4. **No “Use It or Lose It”**
* Traditional LTC insurance can go unused; with an LTC rider, the benefit **either pays for care or goes to your loved ones**
#### 5. **Locked-In Premiums**
* Most policies offer **guaranteed level premiums**, so costs won’t increase as you age
—
### ⚠️ Things to Consider
* Not all policies are created equal—compare **elimination periods, benefit limits, and rider costs**
* You may need to **qualify medically** to add the rider
* Accelerating benefits reduces the eventual **death benefit**
That’s why it’s important to work with a financial advisor who understands both **life insurance planning** and **retirement strategy. **
—
### 📞 Should You Add a Long-Term Care Rider?
This type of hybrid coverage can be a **smart solution** if you:
* Want to avoid burdening your family with future care costs
* Don’t want to pay for a standalone LTC policy
* Want peace of mind that your plan covers more than just “what ifs”
—
### 🎯 Let’s Customize a Plan That Works for You
Every family is different. At **Mintco Financial**, we’ll help you find a policy that fits your age, health, and goals—and explain your options in plain English.
Explore Life Insurance with Long-Term Care Benefits
Speak with a licensed fiduciary advisor at Mintco Financial today.