Say you'rea nonsmoking 50-year-old executive in good health. You're starting to worry about estate planning and how you'll ever be able to afford several years in a nursing home without bankrupting your family. The conventional solution: Buy permanent life insurance with, say, a $200,000 death benefit plus a separate long-term-care policy paying $7,900 a month. The life insurance would cost you $3,000 a year, the long-term-care policy another $3,500 a year. Or you could opt for a cheaper solution, albeit one with a steep upfront cost: For a $50,000 single premium, you can buy a permanent policy called Money-Guard from Fort Wayne, Ind.-based Lincoln National Life Insurance. It has a $193,000 death benefit.
展开▼
