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re: Long term care insurnace policies
Posted on 1/19/24 at 11:05 am to Shepherd88
Posted on 1/19/24 at 11:05 am to Shepherd88
Does GVUL premium not start off MUCH higher than a traditional LTC premium? Sure, maybe with age the traditional premium increases above the GVUL cost but I'm assuming you are front loading GVUL much MUCH more?
ETA: If you can afford to max out your retirement at $50k+ a year, I don't see how these are good policies to then put your money into outside of simple comfort and additional investment? In other words, you'll already most likely have plenty of money to pay for this to where it shouldn't be a major concern.
ETA: If you can afford to max out your retirement at $50k+ a year, I don't see how these are good policies to then put your money into outside of simple comfort and additional investment? In other words, you'll already most likely have plenty of money to pay for this to where it shouldn't be a major concern.
This post was edited on 1/19/24 at 11:08 am
1
Posted on 1/19/24 at 12:04 pm to baldona
It’s about leverage and having access to a pile of money before I can accumulate that amount of money. The beauty of the VUL part is that you’re still accessing the markets with your cash value so you’re not missing out on that part. The downside to that is the internal fees will be higher than what it would have been if you invested in just index funds, but you’re getting tax deferred growth inside the policy as well and maintain flexibility of its use so I do believe it makes sense.
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