Long-term care (LTC) policies can be purchased in which manner?

Long-term care (LTC) policies offer flexibility in how they can be purchased, which is reflected in the ability to obtain them either individually or as an endorsement to a life insurance policy. This means that consumers can select a standalone LTC policy tailored to their needs or enhance an existing life insurance policy with long-term care benefits.

This flexibility is essential because it allows individuals to choose the financial product that best fits their circumstances and preferences. By combining LTC with life insurance, policyholders can ensure that they have access to necessary long-term care services while also providing benefits to their beneficiaries in the event of their passing. This dual approach offers a way for policyholders to plan for both potential long-term health care needs and the legacy they wish to leave behind.

Conversely, other purchasing methods, such as group policies or employer-offered plans, do exist but are more restrictive in terms of availability and options. Hence, the choice of obtaining LTC either as an independent purchase or as an endorsement provides the broadest range of options for consumers.