Many of you who bought traditional long term care insurance may have recently gotten quite a surprise in the mail. They are raising their monthly premiums and it is significant. Let me first say, don't abandon the policy without checking with another professional. The last thing you want to do, especially if you have paid into it for a number of years is to abandon the cash value of the benefit. Depending on the carrier and the policy design, there are a number of things that can be done to save the cash value and in some cases lower the premium.
Call me at 256-417-4870, and lets talk.
Mike
Mike Mickels is President of CochranMickels Retirement Specialists and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. They also provide retirement and benefits training to Federal employees. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc, a Registered Investment Advisor. CochranMickels and Cambridge are not affiliated. Mike Mickels is President of CochranMickels Retirement Specialists and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. They also provide retirement and benefits training to Federal employees. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc, a Registered Investment Advisor. CochranMickels and Cambridge are not affiliated.