“Long-Term Care Annuities: Pros and Cons,” by Rebecca Lake, Yahoo! Finance
“A long-term care annuity is a deferred annuity that includes a long-term care rider. A rider is essentially an add-on you can include when purchasing an annuity that offers extra features or benefits. You purchase the annuity with the long-term care rider and when you eventually need long-term care, you can begin receiving payments to help with those expenses. Payments can be made to you monthly or as a lump sum. Your annuity company can give you the money to use as needed or reimburse you after the fact for long-term care expenses you’ve already paid.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Pros and cons of LTC annuities vs. LTC insurance.