Care insurance also has death benefit

Ask an expert

December 23, 2012|Ask an Expert

Q: I am 76 and interested in long-term care insurance. I have a proposal where I would pay $50,000 to an insurance company. There are rider charges that I don't understand. What should I do?

M.P., Orlando

A: This is a combination life insurance policy and long-term care policy. If you don't use the long-term care benefit before you die, your heirs will receive the death benefit. I recommend you consult with a Certified Financial Planner to review all long-term care options that might be available to you.

Judith Sanborn

Q: My mother sold some shares of stock and received a check from the investment company. She has the check in her kitchen drawer. What should she do with it?

A.G., Orlando

A: First of all, she needs to deposit the check in her bank account. She will need to get cost-basis information to determine the tax impact of the sale. From there, she can look to diversify the funds into her portfolio.

Karl Furno

Q: If you have all your eggs in one basket and it is exceeding the benchmark, is it wise to keep it?

A: A broadly diversified portfolio made up of low-cost index funds would reduce your exposure to risk versus putting all your investments in one basket.

Mike Salmon


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