Q: At a recent retirement seminar I attended the speaker mentioned advantages to having a universal life policy that could be converted to a disability policy over paying for a long term care insurance policy. One of the advantages mentioned is the fact that any unused money would go to beneficiaries, whereas under a long-term policy you either use the money or it goes when you go. Why buy a long-term care policy when you can have this benefit?
A: It costs more.
