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  • Me too, so I bought a Long Term Care insurance policy for me. If you've looked into a policy for you and your wife, you've probably noticed the premium can be expensive at your ages, even with excellent health. However, you can use the equity in your home to pay for the premiums, with a Reverse Mortgage. If your home appraised for $240,000.00, you'd receive $949.25 per month, and can use the proceeds for the Long Term Care insurance premiums.

  • Login to rate this answer:   Answered on 3/3/2013
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.