You can get a hybrid policy with Long-Term Care and Whole Life Insurance in one policy. The whole life insurance policy cash value can grow at an Internal Rate of Return between 4-6%, the Death Benefit is guaranteed, the premiums are level, and the Death Benefit can be accessed for Long-Term Care insurance claims. Guardian Life has an index participation rider that can earn a 2-9% IRR based on the annual returns of the S&P 500 (SPX). Also the cost of borrowing is fixed at 4.76% which is a good hedge for interest rate volatility and this rate drops to 2.76% after the 20th anniversary. Whole Life can be pledged as collateral for an insurance-backed Line of Credit from The Bankcorp Bank or Merchant's and Manufacturer's Bank. In so doing, the interest is tax-deductible as a business expense. Embedded Life insurance, long-term care insurance, and Business Line of Credit with tax-advantaged retirement income. And it avoids probate.
