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Americans’ life expectancies have risen considerably. A male who has reached age 65 is now expected to live to age 86.6, and a 65-year-old female is expected to reach age 88.8. With more people living longer, there is more time to enjoy the golden years — but also a greater possibility that the elderly will need long-term care and the danger that they will outlive their retirement savings.<\/p>\n
Insurers offer a number of policies to cover such situations, including stand-alone long-term care insurance policies and the option of adding a long-term care rider to one’s existing life insurance. Critical care riders are yet another option.<\/p>\n
A critical care rider, also known as a chronic illness rider, can be added to a life insurance policy, allowing the policyholder to tap death benefits to reimburse a health care facility that provided care or family members who paid for it. The benefits are tax-free, usually up (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Americans’ life expectancies have risen considerably. A male who has reached age 65 is now expected to live to age 86.6, and a 65-year-old female is expected to reach age 88.8. With more people living longer, there is more time…<\/span><\/p>\n