I’d say go with Rich’s guy, already one poster backed up the advice and if he had screwed someone, the peanut gallery here would have tore him a new one. I plan on using a few of the pro’s that are regulars on this site in future transactions because their reputation is much more on the line in this forum than some clown with an ad on the radio.
As far as combining insurance and investments, i’ve never found them to be the best way to go and I made a few errors as a young man when it came to whole or universal policies. If she has no dependants that she supports, much life insurance isn’t really needed, if she does have dependants reliant on her for financial support, term is usually the best bet. For long term or nursing care, a combination of a nest egg and some specific insurance for that is better. The fact that she wont be needing that care in the near future will make it much cheaper, easier to get and she can keep it, if she needed it very soon, she wouldn’t be able to get it or it would be expensive. It isn’t the best play in the market but i have it and it makes me feel good. I bought it in my early 30’s from someone who I still trust and the payments are negligible and there is a sunset clause so I actually stop paying for it this year or next but the coverage stays in effect forever. At the time I had a relative that works in hospital administration and specialized in nursing home placements and benefits analysis, I ran it by them and they were familiar with the plan and company behind it, at the time they endorsed it. I’d name it but it isn’t publicly available at those rates because it was an employer subsidized thing, which is what made it pencil out since I wasn’t really laying out all the cash but using credits ( I tend not to scrutinize free money like I do my money). My relative isn’t in that specialty anymore but calling a nursing home billing department and asking wouldn’t hurt, they know the medicare/priv insurance stuff and you can probably sweet talk some advice that even the sellers of a plan don’t understand. The crappy thing about insurance is that karma usually wins. I visited a long time friend in the hospital today who is way to young to be as sick as he is and while he is adequately insured he didn’t take the policy i did when he had the chance and looks like he will need it. I’ll probably get hit by a bus and never get to utilize it, so can’t win anyway, it just helps you sleep.
